–renowned Economist, Sir Paul Collier says

THE Government of Guyana is on the right track with investments in crucial infrastructure across the country, Professor of Economics and Public Policy at the Blavantnik School of Government, University of Oxford, Sir Paul Collier has said.

The renowned economist, during a recent episode of the Energy Perspectives podcast, pointed out that oil does not last forever, thus the Guyana government is making the right move by investing in long-term assets “on the ground.”

“The oil won’t last forever, and so it’s important that when you take oil from under the ground, you put some durable assets on top of the ground and that’s what infrastructure is,” he said.

Sir Paul emphasised that any shift towards heavy subsidisation of consumption would be a mistake, as technologies will evolve and at some stage, there will be a transition to renewables, which are cheaper than oil.

The world renowned economist also pointed to the risks direct cash transfers without the right balance could have on the economy.

This was a response to those persons calling for direct cash transfers as opposed to investments in infrastructure.

Heavily relying on direct cash transfers from the government is not healthy, the Professor said.

While many say that persons cannot eat roads, the Professor sharply responded that those same roads could be the reason one can eat.

“The answer is, you can eat thanks to the highway and you can eat thanks to the road because the highways and the roads would enable a lot of economic activity, and so it will open up an ability to earn your living. Just living on hand outs from a gracious government is not a healthy affairs, even if it would last. But of course, it can’t last,” Sir Paul said.

Guyana has made significant progress since the Dr. Irfaan Ali-led administration was elected to office in 2020.

President Ali previously emphasised the country’s transformation across multiple sectors, particularly how development is positively impacting citizens’ lives.

He made it clear that infrastructural development is about more than just physical structures.

Beyond physical infrastructure, the President had pointed to advancements in healthcare as another major success.

He also shared that thousands of nurses are being trained to meet the increasing demand for skilled professionals, ensuring the country’s healthcare system is equipped to handle future challenges.

There are also ongoing efforts to improve welfare and healthcare management, strengthening critical services to improve the overall quality of life for all Guyanese.

These developments, President Ali had stressed, reflect the government’s broader commitment to building a strong, sustainable system that supports the health and well-being of the population, as Guyana continues to evolve.

Last month, President Ali once again strongly countered opposition criticisms of the government’s heavy investment in infrastructure, asserting that such spending is crucial for spurring economic development and improving the country’s global competitiveness.

He pointed to several key infrastructural projects as essential tools for creating opportunities and driving long-term economic transformation, rejecting claims that these investments are excessive or misdirected.

The Head of State said: “If you don’t have infrastructure, you have to build it, because development follows infrastructure.”

He pointed to the New Demerara Harbour Bridge, which, once completed, will drive a wave of economic opportunities.

It will span approximately 2.65 kilometres and features a hybrid cable-stayed design. It will also include four lanes for vehicle traffic as well as cycle lanes.

The new bridge is set to replace the bridge which has been in operation since 1978, and which has faced numerous structural issues and limitations over its life span.
Once the new bridge is completed, commuters will also travel toll free.