– Private Sector credit grows by 7.7 per cent in first half of 2025

GUYANA continues to attract global confidence and investment as the country’s economy expands under the People’s Progressive Party/Civic (PPP/C) Government’s pro-investment policies. Since returning to office in 2020, the administration has prioritised fostering an enabling environment for both large and small businesses, promoting job creation, economic diversification, and sustained non-oil sector growth.
The most recent vote of confidence came last week, when Citi, one of the world’s leading financial institutions, announced plans to establish a representative office in Guyana. The move marks another major milestone in the country’s growing integration with international finance and investment networks.
Citi, in a statement, said its decision was motivated by Guyana’s exponential economic growth and increasingly attractive investment climate, citing the nation’s strong fundamentals, expanding private sector, and transparent governance framework.
Government officials have welcomed the announcement as a testament to the leadership of President Dr Mohamed Irfaan Ali, whose administration has been actively positioning Guyana as a premier and stable destination for global investment. The development, they said, underscores the PPP/C Government’s success in engaging with the international community while building a modern, diversified, and resilient economy.
STRONG FINANCIAL SECTOR PERFORMANCE
Guyana’s Mid-Year Report, presented recently to the National Assembly, reflected robust growth across key sectors of the economy. According to the report, credit to the private sector increased by 7.7 percent to $485.4 billion during the first half of the year.
Lending to the services sector grew by 4.9 percent to $165.6 billion, while manufacturing and agriculture recorded growth rates of 12.4 percent and 1.1 percent, respectively. Expansion in the manufacturing sector was driven by lending for construction and engineering, which rose by 76.9 percent and 8.9 percent, while telecommunications saw a 24.7 percent increase.
Additionally, credit to households grew by 7.3 percent to $51.8 billion, with a 20.3 percent rise in lending for motor vehicles. Real estate mortgages expanded by 11.4 percent to $173.5 billion, reflecting higher demand for private dwellings as well as industrial and commercial properties.
The PPP/C Government has reaffirmed its commitment to deepening financial inclusion and literacy across Guyana. According to its 2025 Manifesto, several new initiatives will be implemented over the next five years, including a National Financial Literacy and Financial Inclusion Strategy to increase citizens’ understanding of financial services and promote participation in the formal economy.
Other key commitments include: Collaborating with commercial banks to simplify online banking services and facilitate account openings and loan applications; Expanding agent banking networks to reach remote and hinterland communities currently underserved by traditional banks; and Promoting digital payment systems, including mobile wallets and online platforms, to reduce cash dependency and enhance access to financial services nationwide.
Meanwhile, the Government is advancing plans to establish a Development Bank aimed at providing micro-credit loans to small and medium-sized enterprises (SMEs) — another major commitment outlined in the PPP/C’s 2025 Manifesto.
President Ali, speaking in early October, confirmed that the initiative is progressing and will include capacity-building programmes to help small business owners craft viable business plans and loan applications. These efforts are designed to help SMEs transition into the formal financial system and benefit from Guyana’s expanding economic opportunities.
As Guyana continues to experience rapid economic transformation, the PPP/C administration has pledged to maintain stability, transparency, and inclusiveness at the centre of its development agenda.
The government’s approach, promoting investment, strengthening the private sector, and modernising financial systems, continues to attract both local and international confidence. With major institutions like Citi now entering the Guyanese market, the country’s growing reputation as a safe and promising investment destination appears stronger than ever.