Guyana: Staff Report for the 2009 Article IV Consultation

IMF Staff Country Reports, September 17, 2010

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Guyana: Staff Report for the 2009 Article IV Consultation

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Bibliographic details

• Published: September 17, 2010
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781455208470.002

Summary and key findings

• Guyana has weathered the impact of the global crisis well by regional and global standards.
• The current account deficit declined by 5 percent of GDP (to 8.5 percent of GDP), largely led by a reduction in imports, particularly of fuel.
• Macroeconomic policies have remained prudent.
• Monetary policy tightened somewhat in 2009, supporting the decline in inflation and external stability.
• Structural reform has continued to focus on further reducing vulnerabilities and entrenching long-term growth.
• The authorities have consolidated insurance and bank supervision at the central bank.

Macroeconomic developments

• Current account: declined by 5 percent of GDP (to 8.5 percent of GDP).
• Trade: reduction in imports, particularly of fuel, was a key driver of the current account improvement.
• Monetary policy: tightened somewhat in 2009, supporting a decline in inflation and external stability.
• Fiscal and macro policies: characterized as prudent over the period covered.

Structural reform and financial sector

• Continued emphasis on reducing vulnerabilities and entrenching long-term growth.
• Consolidation of insurance and bank supervision at the central bank.

Subjects and policy relevance

• Subject areas: Economic sectors; Expenditure; External debt; Public and publicly-guaranteed external debt; Public debt; Public investment and public-private partnerships (PPP); Public sector.
• Keywords: Caribbean; CLICO Guyana; CR; debt service; deficit; GDP series; Global; Guyana; Guyanese economy; ISCR; keeping inflation; monetary policy; oil reserve; Public and publicly-guaranteed external debt; Public investment and public-private partnerships (PPP); Public sector; real GDP; U.S. dollar.

International Monetary Fund. "Guyana: Staff Report for the 2009 Article IV Consultation."

Content in this bundle

• Guyana: Staff Report for the 2009 Article IV Consultation; IMF Country Report 10/292; March 2, 2010
  • Guyana: Staff Report for the 2009 Article IV Consultation; IMF Country Report 10/292; March 2, 2010 (Markdown version)
  • Guyana: Staff Report for the 2009 Article IV Consultation; IMF Country Report 10/292; March 2, 2010 (PDF)