Oil-producing Guyana; growth rate may jump to 38.5 percent- IDB, IMF

Fewer soft loans for oil-producing Guyana; growth rate may jump to 38.5 percent- IDB, IMF

IDB Headquarters Washington. DC.

Posted by: Denis Chabrol Demerara Waves December 20, 2017

The Inter-American Development Bank (IDB), in announcing its approval of Guyana’s four-year country strategy, has cautioned that the country would eventually not be eligible for a lot of international concessional financing when it becomes an oil-producer.

“As Guyana transitions to oil and gas production by mid-2020, it is expected that the country will likely see reduced access to concessional resources from the multilateral development banks. This means that the next four years are particularly important for the IDB’s long partnership with Guyana,” the bank states.