‘We expect Guyana to continue to have very fast growth rates’
Deputy Director of the Western Hemisphere Department at the International Monetary Fund (IMF), Ana Corbacho
Deputy Director of the Western Hemisphere Department at the International Monetary Fund (IMF), Ana Corbacho

– IMF rep says

WITH Guyana being hailed as the fastest-growing economy in the world since 2022, Deputy Director of the Western Hemisphere Department at the International Monetary Fund (IMF), Ana Corbacho, has said that they expect this growth to continue.

Corbacho made these remarks during a press conference on the Regional Economic Outlook for the Western Hemisphere on Friday.
She added that Guyana has been the fastest-growing economy not only in the Caribbean but in the world, with an average growth rate of 47 per cent between 2022 and 2024.
“We expect Guyana to continue to have very fast growth rates in an environment of macroeconomic stability,” the deputy director said.

She further indicated that in the current global and uncertain environment, maintaining macroeconomic stability is critical, along with continuing to strengthen resilience to shocks.
This, she added, includes shocks from oil prices, as well as building strong institutions to ensure the benefits of oil wealth are shared across generations.
“Currently, oil revenues are already helping Guyana address very significant development needs,” Corbacho told the conference.

According to the IMF’s April World Economic Outlook, Guyana is poised to remain one of the world’s fastest-growing economies in 2025, with a projected GDP growth of 10.3 per cent.
This forecast places Guyana second only to Libya in economic expansion. Following the onset of oil production, Guyana has consistently achieved double-digit economic growth.

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