Citing oil and gas developments, Republic Bank (Guyana) Limited says it remains optimistic about Guyana’s growth prospects.
In his Chairman’s review for the bank’s Annual General Meeting (AGM), to be held on December 14, Nigel Baptiste said, “With two new discoveries by ExxonMobil; the commencement of the Corentyne Block well by Frontera Energy; the consultations for the US$900 million gas-to-shore project; the (arrival) of the second Floating Production and Storage and Offloading vessel (FPSO), the commencement of the third FPSO in Singapore and development of the new onshore facility on the West Bank of Demerara, Republic Bank remains optimistic about Guyana’s growth prospects”.
Baptiste projected that Guyana’s economy “will remain a global top performer in the coming quarters, with a revised growth rate of 19.5 [%] in 2021…”
