Jamaica’s Petro Caribe fund head cautions Guyana on oil funds

Dr. Wesley Hughes

The announcement here last year that ExxonMobil has located significant deposits of crude oil offshore Guyana has evoked a considerable level of interest both inside and outside Guyana, the most recent expression of interest in the likely implications of the oil find for the Guyana economy coming from Dr. Wesley Hughes, Chief Executive Officer of the Petro Caribe Development Fund.

Speaking on the issue of the desirability of the prudent management of resources deriving from oil, Hughes, in an interview with the Jamaica Gleaner urged the authorities here to take counsel from the experience of Jamaica which he said has not necessarily been a fount of wisdom