Guyana

Located on South America’s northern coast, Guyana is the continent’s sole nation with English as an official language. Until recently, the economy of this country of just 800,000 people relied heavily on exports of commodities such as sugar, rice, wood, gold and bauxite. However, in 2019, following the discovery of large offshore deposits, Guyana was propelled into the ranks of oil producers, triggering a period of astounding double-digit GDP growth projected to continue in the years ahead.

Despite its recent economic boom, Guyana confronts significant hurdles on its path toward achieving broad-based, sustainable development. An inefficient legal system and pervasive corruption continue to impede progress; and transportation, electricity, education and healthcare infrastructure remain inadequate. Reliance on foreign financing, a shortage of skilled workers and vulnerability to climate events such as hurricanes and floods present additional challenges.