The Amaila Falls Hydroelectric project is expected to have a transformational impact on the Guyanese economy, but also poses large fiscal risks should it fail to deliver the promised benefits, a recently released International Monetary Fund (IMF) report has warned.
The Staff Representatives for the 2010 Consultation with Guyana, in their report, said that “the impact of the Amaila Falls project will need to be carefully monitored, during the construction (end-2011–14) as well as at the operational stages (2015 onward) to ensure that the economic benefits materialize as expected, especially on energy costs and the Guyana Power and Light Company’s (GPL) balance sheet.” The fiscal risks associated with the public-private partnership need to be monitored carefully, the report said.
According to the report, the staff welcomed the level of transparency and public disclosure of the project to date, including reflecting any firm or contingent liabilities
