Guyana earned US$34.8 million (GY$7.3 billion) in interest from its oil fund in the second quarter of 2025, more than enough to pay for the construction of a new hospital, based on the Bank of Guyana’s latest report on the Natural Resource Fund (NRF).
The interest income alone exceeds the cost of the recently commissioned Diamond Regional Hospital, which was built for approximately US$31.7 million (GY$6.6 billion). The state-of-the-art facility was constructed under a partnership with China’s Sinopharm International. It was opened by President Irfaan Ali in June. The facility is designed to meet Chinese, British, and American healthcare standards and serve communities in and around Diamond, the Health Ministry said. It is part of the government’s broader plan to build 12 new hospitals across the country by 2028.
The NRF was set up in 2020 to hold revenues from offshore oil production. The interest income is generated from deposits held at the Federal Reserve Bank of New York. The U.S. Federal Reserve kept its federal funds target range between 4.25% and 4.5% throughout the second quarter.
Since its inception, the NRF has received inflows totaling approximately US$6.3 billion (GY$1.3 trillion) from the sale of 80 lifts of profit oil, representing Guyana’s share of production from the ExxonMobil-led offshore operations, the Bank of Guyana said. Each lift represents roughly one million barrels of crude. An additional US$955.8 million (GY$199.3 billion) has been received in royalty payments.
The law governing the NRF allows the government to withdraw funds for public spending once approved by Parliament. Withdrawals are transferred to the Consolidated Fund, the government’s main account.
During the second quarter, the government withdrew US$800.0 million (GY$166.8 billion) from the NRF. Total withdrawals for the first half of 2025 amounted to US$1.2 billion (GY$250.2 billion), or 48.7% of the $2.46 billion budgeted for the year. Since 2020, cumulative transfers to the Consolidated Fund have reached US$4.4 billion (GY$916.5 billion), the Bank of Guyana said.
Oil revenues have helped drive an infrastructure boom across Guyana. Public funds have been directed toward roads, bridges, energy projects, and schools, in addition to healthcare. The government has also invested in new housing communities, including utilities and support for home construction. Alongside government spending, private investment is also rising, with new hospitals and other developments emerging across the coast.
Guyana’s oil wealth is derived from production at the offshore Stabroek Block, where ExxonMobil operates three producing developments, with co-venturers Hess (now acquired by Chevron) and CNOOC.
The projects produced 664,000 barrels per day (b/d) of crude in June, with production capacity set to exceed 900,000 b/d when a fourth project starts this week.
