Opinions

Impact of oil price shock on Guyana’s macroeconomic activities

Crude oil is an important source of energy and used in domestic as well as transport and industrial sector widely. This is the reason it is considered as the crucial and important factor of economic development of the country....

The potential economic effects of a global pandemic on the Guyanese economy

The global economic activity will be more strongly affected by a pandemic with high infection rates rather than high virulence rates, all else being equal. At the regional level, regions with a higher degree of economic integration with the...

Market arrangements for Guyana’s gas supply framework

In a market-oriented framework, it is partly up to customers themselves to determine what degree of security they want – for example, they can install back-up systems, they can physically contract for gas and/or become actual or virtual storage...

Measuring and valuing Guyana’s potential for gas security of supply

Energy is a vital part of every aspect of modern life in Guyana and for our continued economic prosperity. There is at present no universally accepted definition of security of supply and how this should be measured. Factors such...

Factors to consider for a gas generation strategy for Guyana

Natural gas generating capacity will form an integral part of Guyana’s future energy generation mix and it will be a reliable and flexible source of electricity. Using gas as a fuel in the power stations will provide a significant...

The importance of transparency for Guyana’s petroleum management

Institutional mechanisms that could be implemented through a Natural Resource Fund (NRF) covers those that aim to promote transparency and the dissemination of information. It bears emphasizing that the mechanisms that have been discussed for dividing power are also,...

Separation of powers to govern Guyana’s political economy

A reliance on rules is vulnerable to the possibility that policymakers have incentives to break them. In states where the costs of breaking rules are low, therefore, other mechanisms are needed to change policymakers' incentives. An alternative to (or reinforcement...

Oil was sick even before coronavirus hit

(Bloomberg Opinion) -- Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60...

Institutional mechanisms for Guyana’s natural resources wealth management

Rules One possible solution to the problem of overspending is to remove the government's discretion over how natural resource wealth is spent. Most Natural Resource Funds (NRFs) are set up with conditions on how and when money can be withdrawn...

Challenges to prudent policies for Guyana’s political economy

Transparency                                       The public observes aggregate government expenditure but does not know the precise origin of such funds. Citizens are, on average, correct...

Latest News

Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...