Guyana 

Guyana country policy

Policy established 16 May 1994

• Off cover
• Private buyers: SIF facility

Country class: 7

Guyana country facts

Atradius DSB  Economic Research
Country Report last updated :  14 March 2009
Country :  GUYANA

Political Situation
Fractured And Weak Political System

Head of state
President Bharrat Jagdeo.

Form of government
Government of the People’s Progressive Party.
 
Internal Economic Situation
Improved On A Low Level

General situation
Guyana has a rich (mineral) potential: bauxite, gold, diamonds, timber and offshore oil reserves. Decades of devastating state-led, inward-looking
Qualification economic management
Weak governance which is hampered by the strong political divisions.

External Economic Situation
Despite Debt Relief, Still Weak

Main sources of foreign exchange
Sugar (22%), gold (21%), bauxite (12%), rice (10%), shrimps, timber; private transfers.

Main foreign markets
EU (29%), Latin America (20%), USA (19%), Canada (18%).

Main expenses of foreign exchange
Fuel (28%), intermediate products (25%).
 
Balance of payments  
In 2009 imports are decreasing nearly as fast as exports, leaving the current account deficits unchanged though still high. Some FDI, concessional finance and private transfers have to cover the deficits, underpinning a rather stable exchange rate of the Guyana $.