Georgetown : Guyana has been featured in Fortune Magazine, one of the most popular global business publications in the United States. It has been describes as the “next frontier” with an expanding international presence, thriving exports, and potential oil and gas discoveries on the horizon.
The article stated that the nation has come a long way since its debt-ridden 1990s and spoke of the decades of prudent fiscal management, which have laid the base for new growth.
It highlighted that because of its unique geographical position, and ongoing infrastructure projects that are linking this booming nation with its neighbours, the government sees a new role for this country of fewer than 800,000 people: as a regional hub and a bridge between South American and global markets.
President Donald Ramotar, who was interviewed by the Magazine, was quoted as saying, “we are a very open society and ready to partner with the international community. Also, there is a strong movement in South America to unify infrastructure between nations, and we are part of that. Guyana has observer status in Mercosur and we are part of UNASUR so we have a unique position geographically to act as a link between the Caribbean and South America.”
Minister of Finance, Dr. Ashni Singh was quoted as saying, “ten years ago the fiscal deficit would have been almost 13% to 15% of GDP. Today it is around 4.5% and our total debt to GDP ratio is in the vicinity of 60%. In today’s world that is a significant achievement.”
President Ramotar believes that Guyana, with its budding export sector, is on the right track to play an increasingly significant role in the region.
Governor of the Bank of Guyana, Lawrence Williams, in his interview with the Magazine said that, “By 2006 our productive sectors were on a strong footing. Export receipts were improving because of the performance of various sectors of the economy. The increase in foreign exchange earnings and the liberalisation that took place ensured that there was adequate foreign exchange flowing into the system. We have managed to keep things on an even keel.”
