IMF Special Issues

March 19, 2003

Guyana: Experience with Macroeconomic Stabilization and Structural Adjustment and Poverty Reduction

Description: This book analyzes Guyana’s experience with macroeconomic stabilization and structural reforms between 1989 and 2000 and discusses the risks and challenges that the country faces in its quest to achieve sustainable growth and further reduce poverty. During this period, Guyana transitioned successfully from a state-controlled to a market economy. Stability was restored, growth recovered markedly, and poverty declined as a result of strong macroeconomic policies and wide-ranging structural reforms. The success of the poverty reduction strategy the country has developed hinges on the implementation of sound macroeconomic policies, further lowering of the country’s external debt burden, acceleration of the restructuring of institutions and the economy, and a stable political environment.