Guyana's big profits dreams crushed by the pandemic and the “resource curse”

Monday, October 5th 2020 - 09:58 UTC

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By Amy Myers Jaffe (*) – This year was supposed to bring great things for Guyana. ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in 2015, and Guyana sold its first cargo of crude oil this February. As production ramps up, its first stage offshore wells were projected to produce 750,000 barrels a day by 2025, tripling the size of Guyana's economy, from US$ 3,4 billion to US$ 13 Billion. Read full article

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Chicureo
Comment removed by the editor.
Oct 05th, 2020 - 02:57 pm - Link - Report abuse 0
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Terence Hill
Couldn't have happened to a nicer guy.
Oct 06th, 2020 - 11:58 am - Link - Report abuse 0
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MarkWhelan
As far as I could see the election debacle was caused by the fight over the control of the oil revenue and ethnic tension.
Guyana has a strong potential for a broader based economic growth. Unfortunately the first growth steps will have to come in the areas of extraction and agriculture.
If Guyana can stop exporting it 's best brains then it can expand successfully into some specialized manufacturing fields.
Oct 06th, 2020 - 02:45 pm - Link - Report abuse +1
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