Guyana:2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana

Author: International Monetary Fund. Western Hemisphere Dept.

2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guyana

Volume/Issue: Volume 2022 Issue 317

Publication date: September 2022

ISBN: 9798400220289

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , IMF FSAP , Guyanese authorities , climate change policy framework , capital investment , anti-corruption framework , Oil , External sector statistics , Global , Caribbean

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Summary

Following the pandemic-induced recession in 2020, economic growth recovered in 2021, with non-oil GDP growth reaching 4.6 percent, despite being negatively impacted by floods. Inflation increased markedly since 2021 owing to the floods and supply-side disruptions, as well as continually rising fuel and food prices. Oil production increased and will ramp up substantially over the medium term.