Guyana : Recent Economic Developments and Selected Issues

This Selected Issues paper describes economic developments in Guyana during the 1990s. Real GDP recovered with an average growth rate of 7½ percent a year during 1991–94 as economic activity responded to a shift in economic policies. Renewed confidence led to increased investment—particularly increased foreign direct investment in the bauxite, gold, and forestry industries. Also, structural reforms—including the engagement of private management—led to increases in sugar and rice production, the main agricultural products. Expansion in light manufacturing, distribution, and financial services contributed importantly to the overall growth during the period.