Friday, May 8, 2009

Guyana's GDP projected to grow 2.6% by the IMF despite a 1.3% decline in Global Economic activity!

The April 2009 World Economic Outlook (WEO) which presents the International Monetary Fund (IMF) staff's analysis and projections of economic developments has projected that Guyana’s economy will grow by 2.604% in 2009, and by 3.448% in 2010.

In contrast, “even with determined steps to return the financial sector to health and continued use of macroeconomic policy levers to support aggregate demand, global activity is projected to contract by 1.3% in 2009,” the report stated.

“Moreover, the downturn is truly global: output per capita is projected to decline in countries representing three-quarters of the global economy. Growth is projected to re-emerge in 2010, but at 1.9 percent it would be sluggish”, the report continued.

The report also projects that the economies of Latin American and Caribbean countries will shrink by 1.5% as a result of the financial turbulence, slumping demand from advanced economies, especially the United States which is the largest trading partner for the region, and the resulting fall in commodity prices.

Guyana’s inflation rate for 2009 will be a modest 3.639%, and 4.975% in 2010, the IMF has projected.


  1. This signals development and improved services in Guyana. I know Guyana will rise above the storm as we usually do.

  2. I think the Govt. of Guyana really needs to be commended for their good and hard work of keeping our economy steadfast amidst financial storms. Their initiatives and implementations of various natures seems t be paying off.

  3. Little Guyana doing great things!! I see most of the developed world recording loses for the entire year; the world economy has shrink and yet Guyana is doing exceedingly well!!

  4. Guyana continues to show promising sign of development despite the Global crisis