By the end of this year Guyana could have approximately US$500 million in its Natural Resource Fund (NRF), the Inter-American Development Bank (IDB) has stated in its first quarterly report for 2021.
“The government received US$267 million for oil sales and royalty payments through 2020 and March 2021… with Brent crude oil at more than US$60 a barrel and the expectation of oil production increasing by 46.7 % in 2021, government oil revenues could significantly increase this year. The government could receive US$263 million in oil revenues …which would take the balance of the NRF to approximately US$500 million by the end of 2021,” it states.
