Significant risks remain including management of oil wealth to avoid Dutch disease effects and inflationary pressures. Improvements in the quality of public spending are critical. Guyana’s development is dependent on mitigating ethnic tensions, strengthening institutions, and upgrading infrastructure.
World Bank
In an address to the World Economic Forum last Wednesday, United Nations Secretary-General Antonio Guterres was once again relentless in his criticisms of fossil oil producers and their financial backers. He accused them of ignoring their own science on climate change and ‘racing to expand production, knowing full well that their business model is inconsistent with human survival’. He further stated that:
