GUYANA stands as a beacon of hope in a world where resource-rich nations often fall prey to the notorious “resource curse”.

With oil revenues flowing into the country’s coffers at an unprecedented rate, expected to exceed US$12 billion between 2025-2028, the PPP/C administration has demonstrated that prudent stewardship of natural wealth can indeed transform a nation for the better.

The recent commendation by the International Monetary Fund is a confirmation of what others have observed: This administration has developed an intelligent plan that is balancing short-term development requirements with long-term wealth.

The signs of transformative investment are everywhere. In the health sector, the State has invested more than G$129.8 billion, a record high that includes hospital construction, diagnostic equipment, and collaboration with foreign medical institutions such as the Mount Sinai Health System.

The ultimate dream of making Guyana a pharmaceutical production centre in the region, driven by investment missions from Europe, is thinking beyond the typical oil dependence.

Equally, education has gotten unprecedented attention, with G$94.4 billion allocated in recent budgets, ranging from smart classrooms, school feeding, to the construction of 24 new schools nationwide in all ten administrative regions.

The government’s pledge of universal secondary education soon is a vision that places human capital as the cornerstone of sustainable development.

Infrastructure development has perhaps been the best story to tell of strategic oil wealth use. Road and bridge investments exceeding G$200 billion are quite literally building the foundation for economic expansion and improved living standards. What is unique about Guyana is not so much the magnitude of the investment, but the framework of transparency and accountability for the funds.

The Natural Resource Fund Act 2021 requires parliamentary approval for withdrawals and publication to the public of all transactions.

Vice-President Jagdeo’s contention that “every cent of oil revenue is accounted for” is supported by institutional guarantees that render a statement such as this verifiable, as opposed to political rhetoric.

The government’s strategy, taking specific social programmes rather than blanket money handouts, is a demonstration of prudent knowledge of economics and genuine concern for not falling prey to the Dutch Disease that has plagued other oil-producing nations.

Critics might query individual policies, but the overall direction is unmistakable: Guyana is leveraging its oil wealth, not as a palliative, but as a springboard for national transformation.

From the G$100,000 cash grants to every adult citizen to the improvement of rural health posts for the Indigenous Peoples, the gains are extending to every segment of society. This is good management of resources, which is strategic, transparent, and transformative.