Past issues
Feeds
Contact
FacebookSimilar stories
Print this story
Tweet this
Digg this
Del.icio.usThe International Monetary Fund (IMF) has commended Guyana’s economy for exhibiting resilience and registering a fifth consecutive year of robust growth “despite external and domestic shock in 2010.”
Guyana is projected to grow by four percent this year “supported by increased activity in the sugar, gold and services sector, the IMF said.
A team from the IMF headed by Therese Turner-Jones recently visited Guyana and after released a statement in Georgetown.
“An IMF mission visited Guyana from Nov. 8 - 18 to conduct the Fund’s yearly review of the Guyanese economy. Despite external and domestic shocks in 2010, Guyana’s economy has exhibited resilience, registering a fight consecutive year of robust growth. Real Gross Domestic Product (GDP) is projected to grow by just under four percent this year, above the outturn in 2009, supported by increased activity in the sugar, gold and services sector.
“Notwithstanding downside risks, including the global environment and concerns in the sugar sector, the team expects growth to continue on a steady path, supported by expansion in the mining and construction sectors. Despite a small increase reflecting movement in food prices inflation remains relatively low, according to the IMF.
The IMF said that it welcomed the continued improvements in public financial management and tax administration, especially with respect to compliance and risk management.
It also welcomes the increase in the gross foreign reserves position, to about five months of imports at present.
©2010 Community Newspaper Group
Enter your comment below
By submitting this comment, you agree to the following terms:
You agree that you, and not CaribbeanLifeNews.com or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to CaribbeanLifeNews.com the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.
