Thursday, April 15, 2010

Guyana has weathered the impact of the global crisis well-IMF

-Kaieteur News & Stabroek News chided for not carrying this story

The International Monetary Fund (IMF) says Guyana has weathered the impact of the global crisis well by regional and global standards and it has sustained a solid macroeconomic performance supported by prudent policies.
However, persons are asking why this particular report was not given any coverage in the local press by the Kaieteur and Stabroek News, who throughout their years of existance have never been shy in giving front page coverage to reports that paint a negative picture of Guyana. The fund’s Executive Directors, following the IMF’s latest assessment last month, commended the
commitment of local authorities to further entrench macroeconomic stability and fiscal sustainability, while promoting long-term growth and development to improve the country’s standard of living and reduce poverty.
In a press release, they observed that the strong fiscal consolidation in 2009 provides space for a more gradual tightening over the near term to support infrastructure investment and growth.
“A cautious fiscal stance remains nevertheless warranted given remaining vulnerabilities. Directors therefore supported the authorities’ commitment to maintain prudent expenditure policies and to continue implementing structural reforms aimed at safeguarding fiscal sustainability”, the fund said.
The IMF Executive Directors welcomed Guyana’s efforts to achieve sustainable long-term growth, including under the Low Carbon Development Strategy (LCDS).
They noted that continued modernization of the sugar sector and diversification of Guyana’s productive base are key to sustaining growth.Read more......


  1. Its good to see that with this crisis Guyana has still been able to keep a stable macroeconomic performance to improve the lives of each citizens.But it not surprising that the KN and Stabroek didn't carry this story cause it not degrading Guyana.Why would you want to show the negativity of your country guess their not true guyanese.

  2. With the increase of that 4-5% in this sector paints a picture that the economy has optimism for more developments. And the IMF contending this report on Guyana to analyze it progress in various areas that have done well and others which did not gives Guyana a chance to revamp on certain aspect to sustainability, credit should be given to the government for his efforts along with his administration in making wise decisions to have a brighter tomorrow