## Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana

_IMF Staff Country Reports, September 17, 2019_

## Source details

**Canonical URL:** [Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana](https://www.imf.org/en/publications/cr/issues/2019/09/16/guyana-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48678)

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## Bibliographic details
- Published: September 17, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513514093.002

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### Overview
- Guyana’s economic growth strengthened in 2018 with broad-based expansion across all major sectors.
- Medium-term prospects are described as very favorable due to oil production being on schedule to begin in early 2020.
- The passage of the Natural Resource Fund legislation is identified as a critical step toward effective management of Guyana’s natural resource wealth.
- The report spans 91 pages and is published as IMF Staff Country Reports 2019, Issue 296, Country Report No. 2019/296.

### Economic projections and key statistics
- Economic growth is projected at 4.4 percent in 2019, extending the broad-based expansion across all major sectors.
- Oil production is on schedule to begin in early 2020.
- Publication metadata:
  - Pages: 91
  - Volume: 2019
  - Issue: 296
  - DOI: https://doi.org/10.5089/9781513514093.002
  - Stock No: 1GUYEA2019001
  - ISBN: 9781513514093
  - ISSN: 1934-7685

### Findings, risks, and policy recommendations
- Main findings:
  - Broad-based expansion across all major sectors contributed to stronger growth in 2018.
  - Medium-term outlook is favorable linked to imminent oil production.
- Fiscal framework and public finance:
  - Policies should fortify the fiscal policy framework to ensure effective use of the new-found oil wealth.
  - To ensure fiscal discipline is maintained and spending ramps up at a pace in line with absorptive capacity, the fiscal framework should be enhanced to prevent deficits.
  - The passage of the Natural Resource Fund legislation is a critical step for managing natural resource wealth.
- Monetary and macroeconomic management:
  - Develop the necessary infrastructure for a suitable monetary policy framework that facilitates adjustment to oil price shocks while maintaining price stability.
- Structural and governance reforms:
  - Reforms should enhance competitiveness, promote economic diversification, strengthen governance, and achieve inclusiveness.

### Subjects and keywords (as listed)
- Subjects: Commodities, Expenditure, External debt, Oil, Oil production, Production, Public debt
- Keywords: authorities project inflation, authority, Caribbean, CARTAC, CR, debt, GDP ratio, Global, government procurement, Guyanese authorities, IMF FSAP, ISCR, Oil, Oil production

*International Monetary Fund. Western Hemisphere Dept. "Guyana: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana", IMF Staff Country Reports 2019, 296 (2019), accessed 9/11/2026, https://doi.org/10.5089/9781513514093.002*

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_Source: https://www.imf.org/en/publications/cr/issues/2019/09/16/guyana-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48678_