Guyana: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana

IMF Staff Country Reports, May 7, 2025

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Guyana’s economy has grown rapidly over the past two decades, progressing from low-middle-income to high-income status—the only Heavily Indebted Poor Countries (HIPC) Initiative participant to achieve this milestone.
Oil production is fast ramping up and, together with strong non-oil growth and large-scale infrastructure investment, is supporting the highest real gross domestic product (GDP) growth rate in the world at a recorded average of 47 percent in 2022–20 24.
The outlook remains highly favorable: oil production will continue expanding rapidly, and non-oil real GDP growth is expected to remain strong, largely supported by the government’s efforts to invest in infrastructure, including for climate change adaptation, promote economic diversification, and improve welfare.

Risks to the outlook are broadly balanced.
Upside scenarios:
- Further oil discoveries would improve Guyana’s long-term economic prospects.
- Productivity-enhancing investment would improve Guyana’s long-term economic prospects.
- Expanding construction activity may support higher short-term non-oil GDP growth.

Policy discussions focused on ensuring that Guyana’s exceptional resource potential is best harnessed to:
- Support the implementation of the authorities’ ambitious low-carbon development plans.
- Ensure macroeconomic stability.
- Achieve inclusive and resilient growth.
Government priorities highlighted as supporting strong non-oil growth:
- Invest in infrastructure, including for climate change adaptation.
- Promote economic diversification.
- Improve welfare.

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