An International Monetary Fund (IMF) staff team, led by Ms. Alina Carare and Ms. Lusine Lusinyan, concluded their 2025 Article IV Consultation with Guyana on March 7, 2025. The mission involved discussions held both virtually and in Georgetown from February 24 to March 7, with key government officials including Vice-President Dr. Bharrat Jagdeo and Finance Minister Dr. Ashni Singh.
In their concluding statement, the IMF staff highlighted the rapid economic transformation underway in Guyana, driven by expanding oil production and strong non-oil output. They noted that these factors contributed to an average real GDP growth rate of 47 percent from 2022 to 2024, the highest globally during that period.
The report projects a continued positive outlook for Guyana's economy, with expected real GDP growth of about 10¼ percent in 2025 and inflation anticipated to rise slightly to around four percent by year-end. "Guyana’s economic transformation is advancing at a strong pace and broadening in scale," stated Ms. Carare and Ms. Lusinyan.
Despite a narrowing budget deficit projected for 2025 due to increased oil revenues, the IMF staff emphasized the importance of maintaining macroeconomic stability through proactive policy measures to prevent overheating and inflationary pressures.
The IMF team commended Guyana's fiscal policies but advised on gradually closing fiscal deficits over the medium term while continuing investments aligned with sustainable development goals (SDGs). They also recommended enhancing monetary policy tools to strengthen financial market resilience.
Efforts towards governance improvements were acknowledged, particularly regarding transparency in public sector operations and anti-corruption frameworks. The mission also praised Guyana’s commitment to climate policies aimed at strengthening macroeconomic resilience against climate change vulnerabilities.
"Staff supports Guyana’s continued efforts to strengthen its AML/CFT and anti-corruption frameworks in line with its international commitments," said the IMF representatives.
The visit concluded with appreciation expressed towards the authorities of Guyana for their cooperation throughout the consultation process.