Opinions

Spending limits, stabalisation and endowment funds for Guyana’s petroleum revenues

An oil account can serve a number of purposes. It could be a mechanism for monitoring oil financial flows, a stabilisation fund to take account of fluctuating oil prices, or a savings device to establish a permanent fund to...

Critical legal and institutional issues for Guyana’s natural resources’ revenue management

In principle, oil or mineral revenues could be handled like any tax or other receipts, placed in Treasury accounts, and allocated in accordance with normal budgetary process. However, in a resource-dependent economy, the magnitude of the receipts and the...

Good governance and applying Guyana’s oil income to national benefits

Oil-rich low-income countries have sometimes been advised to accumulate their oil income into a national financial pool or fund (perhaps held in foreign stocks and bonds), and to spend only the “income” or “earnings” on the financial assets in...

Exchange rate policy for Guyana’s emerging petroleum economy

In the "normal" case that the real exchange rate tends to appreciate following an increase of oil earnings, government policymakers can "engineer" that appreciation in two ways. In the first case, the central bank maintains a floating exchange rate....

The fear of Dutch Disease from Guyana’s petroleum development

One of the possible harms of an oil export boom is that the rise in oil earnings leads to increased public and private spending, which in turn leads to a sharp appreciation of the real exchange rate, and then...

Oil & public investments for Guyana’s overall development – not direct “citizen share”

Oil earnings for an emerging economy such as Guyana should be turned into public investments rather than into increased private consumption. Most poor countries are severely constrained in their development by the under-provision of public goods. Economic development, though undoubtedly...

Oil funds and managing the macroeconomic effects for Guyana

Successive Guyanese governments will have to consider the concept of a separate oil fund. A separate fund could entail providing for a fixed sum to be spent in areas additional to the government’s main spending programmes. However, it may...

Investment, depletion and consumption of Guyana’s oil revenues

Full national considerations are also relevant to a depletion policy of a country’s petroleum resources. Security of oil supplies must be a consideration in Guyana. Possession of crude oil reserves can obviously make a contribution to the solution of...

Depletion policy and licencing arrangements for Guyana’s oil reserves

The rate at which Guyana’s Offshore Basin oil reserves will be depleted will clearly be influenced by the licencing arrangements. The basic decisions regarding the frequency and size of licence rounds, the location of blocks on offer, and the...

Opportunities for State participation in Guyana’s oil development

The establishment of state oil companies is very common in oil-producing countries. Most petroleum producing countries have incorporated state participation in their licensing regulations and/or legislation. The establishment of a national oil company can be justified on several grounds. ...

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...