Guyana has moved up in the World Bank country classification index according to gross national income (GNI) and is now regarded as a high-income country, a change from being middle income and one that would see scaled down access to concessional loans and higher interest rates for borrowing from international development organisations.
And while the minimum wage for the private sector is $60,147 or US$300 per month, the fact that this country is an oil producing nation and large proceeds from that sector go to the state has influenced the indicator and subsequent changes although the World Bank’s classification of a high-income country is one where the gross national income (GNI) is US $13,846 or more.
