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Guyana: Transparency, evidence-based investment decisions needed to avoid oil curse -IMF Mission Chief to Guyana

If Guyana is to avoid the oil resource curse, policymakers need to structure the Public Investment Programme to embrace transparency and evidence-based investment decisions.

This is according to the IMF Mission Chief to Guyana, Arnold McIntyre who related in an interview with Trinidadian economist Marla Dukharan that Guyanese authorities are significantly concerned that recent oil discoveries could lead to the oil resource curse.

“In the initial years of oil wealth it is important not to ramp up too fast and get caught up in white elephants and bad spending. Give yourself time while you are addressing people’s needs to build the capacity you need,” McIntyre said.

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