Guyana: 2010 Article IV Consultation - Staff Report, Supplement, Public Information Notice on the Executive Board Discussion and Statement
|About the Book|
1. In recent years, Guyana has sustained a solid macroeconomic performance, supported by a strengthened policy framework. Newly released GDP series (based on 2006 prices) suggest that Guyanas economic growth exceeded 4 percent a year on average during 2007-09-compared with 3 percent in the previous GDP series (based on 1988 prices), while nominal GDP at market value is some 65 percent higher than before. This reflects, in part, the incorporation of new economic sectors, and of the previously large informal activity that moved into the formal sector since Guyana changed course in the late 1980s (Box 1). Inflation has declined steadily since the imported price shock of 2008, to around 3 percent at end-2009. This performance owes much to the implementation of prudent policies, which have helped reign in public debt, while supporting growth and external stability.