According to the recently passed budget, at the end last year, Guyana’s external debt crossed the US$1 billion mark, reaching US$1.04 billion. At the end of 2009, the country’s external debt had been pegged at US$933.04 million.
By 1992, Guyana’s external debt had reached US$2.1 billion. In 2007, Guyana benefited from US$467 million in debt write-off from the Inter-American Development Bank (IDB) and subsequently benefited from debt write-off from other countries.
Based on the 2011 budget, lending from the multilateral agencies is expected to increase to US$634.5 million an increase from US$588.09 million in the previous year. Loans from the IDB are slated to increase to
