-Minister Singh underscores, says recent IMF/World Bank engagement reflected expanded influence, respect, evolving international partnerships

GUYANA now occupies a place of considerably more influence and respect globally, hemispherically, and regionally on almost all subject matters.

This was the sentiment expressed by Senior Minister with responsibility for Finance in the Office of the President, Dr. Ashni Singh, during his appearance on the ‘Starting Point’ podcast on Sunday.

Speaking following his participation in the International Monetary Fund (IMF)/World Bank Group (WBG) Spring Meetings, Minister Singh said the engagement, coupled with growing interest from international investors, have reinforced Guyana’s growing role of leadership on the international stage.

Speaking during the interview, Minister Singh said the recently held IMF/World Bank Spring Meetings were the most recent example of Guyana’s growing role and influence on the international stage.

Noting the shift that the meetings highlighted, he shared, “Those meetings are a good example of how, not only how we are viewed and perceived, but also the interactions that we have, and the contributions that we can make, and how those have evolved over time.”

He further noted that over the years, Guyana’s engagement with the international community, and particularly the international financial institutions, have improved drastically, and at an unprecedented rate.

He said this engagement has changed due to Guyana’s growing contribution and economic success.

“The engagement has changed significantly because we are a significant contributor now to regional economic growth. We are a significant contributor to aggregate output in the oil and gas, well, in oil in particular, thus far,” he said adding, “The mere fact that we are now an economy that is growing rapidly, that economic outcomes in Guyana matter so much more significantly for aggregate Caribbean economic outcomes and the overall Caribbean economic outlook, that alone has contributed to a significant change in the engagement.”

More importantly, Minister Singh noted that Guyana’s governance has gained just as much traction and attention.

He noted that the People’s Progressive Party/Civic Government continues to gain the support for its progressive leadership, with Head of State President Dr. Irfaan Ali setting an example through policy creation, implementation, and execution that has made Guyana a model in many regards.

“The international community also recognises that in this government, in successive People’s Progressive Party Civic/Governments, and in this generation of the People’s Progressive Party/Civic Government led by President Dr. Irfaan Ali, the international community has found a political leadership that has provided a good example to the world of policy making and policy implementation and execution that is worthy of emulation.”

Moreover, he noted that beyond building a policy framework and implementing it, Guyana’s leadership is also equipped with strong intellectual and thoughtful leadership. This, he added, has made Guyana a voice on a number of critical and pressing matters that face not just the region, but the world.

 “The whole engagement has changed significantly, with greater interest in what is happening in Guyana, not necessarily from the standpoint of what assistance and advice can be provided to Guyana,” he said.

However, Minister Singh was keen to emphasise that Guyana continues to take a collaborative approach, noting that the nation is still open to assistance from partners, receiving advice and listening to alternative perspectives. Collaboration, the minister added, is just as important as expertise in comprehensive successful governance. “We are a listening government, and we are always open to listening, and particularly listening to the opinions of others and the advice of others.”

SUSTAINABLE SUCCESS

This robust leadership that has achieved sustainable success in a number of areas has significantly shifted Guyana’s engagement on the international stage.

As Minister Singh noted, more members of the international community continue to seek out Guyana’s views.

He explained that in recent years, these engagements have evolved, going from matters of assistance and aid to seeking the country’s views on pressing global issues and challenges. “The engagement has changed now significantly, with more people seeking out Guyana’s views, more members of the international community seeking out Guyana’s views, seeking out a kind of engagement and a kind of partnership that is not so much characterised by assistance, official development assistance, aid and those historic modes of engagement, but more recognising Guyana as a destination for investment, a country in which economic and commercial ties have great promise for deepening,” he added, “In fact, seeking our views on some of the pressing issues that confront the world and some of the pressing issues that confront the region.”

Ultimately, Minister Singh underscored that Guyana, despite its small size and population, has gained a growing international presence that is not only about economic figures, but about the country’s expanding voice and visibility on the global stage. This, he added, is being highlighted in a number of recent engagements, citing the nation’s participation in global forums.

“Small Guyana, tiny little Guyana, occupying such positions of leadership, whether it is in the sale of carbon credits for aviation offset targets to be met, or Guyana taking centre stage at OTC, or Guyana taking centre stage in the food security agenda in CARICOM, or Guyana taking centre stage as the physical and economic bridge between northern Brazil and the Caribbean and the rest of the world,” he said.

He added that these are just a few examples and a clear indication that a country can develop at unprecedented rates even when coming from dire financial situations.

Minister Singh noted that Guyana has moved beyond a period when the nation was facing heavy national debt to being the robust and bustling economy it is today. “There are so many examples of Guyana demonstrating that it is possible for a country to lift itself out of being, from being a heavily indebted poor country where we were in the early 1990s, to being the fastest growing economy in the world where we are today.”

He added that while some may say the country is “punching above its weight”, Guyana is proof that through good leadership, collaboration and strong policies, small nations can become global leaders. As he added, “Guyana has for a very long time been punching above our weight. And what we are witnessing taking place in Guyana today is the result of precisely that.”