The United States in on a mission to help the South American country of Guyana remain on a democratic path where its newfound oil wealth will benefit all of its people.
This commitment was reiterated on September 18 by U.S Ambassador to Guyana, Sarah Ann Lynch.
In her address to the WeLead Caribbean’s third annual Empowered Leadership Conference, which is geared towards women empowerment in the business landscape, Ambassador Lynch stated, “As the Ambassador representing the United States, I can tell you our mission in Guyana, and my mission as Ambassador, is to help Guyana continue in a democratic path and prepare to use new oil revenues for the benefit of all its people, including women and girls.”
The Ambassador’s sentiments come on the heel of a call by the International Monetary Fund (IMF) urging the South American country’s officials to use oil revenues to address skilled labour shortages and ensure gender equality.
The IMF has projected that oil will account for around 40 percent of the country’s GDP by 2024. Added to that, the Directors of the IMF have also urged that Guyana’s Natural Resource Fund (NRF) legislation be supported by a fiscal responsibility framework.
The Ambassador has, in the past, pledged the U.S’ assistance in preparing Guyana for the new industry. In a previous conversation with OilNOW, she had said, “We want to be with Guyana on its journey to self-reliance. It is a very important time for Guyana and we hope that Guyana continues to look for opportunities to diversify the economy to prepare the other sectors besides oil and gas that may see an uptick in interest. It could be manufacturing or Information Technology, Agriculture or eco-tourism.”
The Ambassador has noted the United States’ readiness to assist Guyana to plan, implement and finance its own development. The US Government has also been working closely with the Guyana Revenue Authority (GRA) to improve its auditing capabilities. This is being done through the Overseas Technical Assistance (OTA) of the Internal Revenue Service (IRS).
