According to International Monetary Fund (IMF), Guyana’s GDP is expected to be more at 86% in 2020 after expanding 4.4% in 2019.This growth expectaion had done after Exxon Mobil Corp.’s discovery of oil at Guyana. The Guyana’s economy will grow more than three times within five years. Guyana’ GDP is to get fourteen times as fast as China’s GDP in 2020.
i.Exxon will start its first pumping from oil well at Guyana in December 2019. It will produce atleast 7,50,000 barrels in a day by 2025.
ii.Guyana is projecting $300 million petroleum revenue in 2020.It is a country of South America with 7,80,000 population and neighbour countries are Brazil & Venezuela.
iii.The oil sector will represent about 40% of the economy within five years.It crosses $4billion annual Gross domestic product (GDP) and also it will expand to about $15 billion by 2024.
About Guyana:
Capital: George Town.
Currency: Guyanese Dollar.
President: David A.Granger.
Prime minister: Moses Nagamootoo.
About IMF:
Founded: 1945.
Headquarters: Washington, d.c, usa.
MD and CEO: Kristalina Georgieva.
Chief Economist: Gita Gopinath.
