Why Guyana is the Worlds Fastest Growing Economy
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You might not believe it, but this tiny South American country is the world’s fastest growing economy. So in this video we unpack why Guyana is growing so quickly, what it tells us about the world and if Guyana can keep their position.
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1 – https://www.bbc.co.uk/news/world-africa-46960532
2 – https://www.dw.com/en/africa-and-france-an-unfulfilled-dream-of-independence/a-54418511
3 – https://jacobin.com/2021/03/africa-colonies-france-cfa-franc-currency
4 – https://en.wikipedia.org/wiki/CFA_franc
5 – https://en.wikipedia.org/wiki/CFA_franc
6 – Growth and Convergence in the CFA Franc Zone
7 – https://en.wikipedia.org/wiki/Guinean_franc
8 – https://www.jstor.org/stable/161484
9 – https://www.theoxfordblue.co.uk/2022/02/23/what-burkina-fasos-recent-military-coup-tells-us-about-frances-involvement-in-africa/
10 – https://edition.cnn.com/2019/12/23/africa/france-stops-use-of-cfa/index.html
11 – https://www.assemblee-nationale.fr/14/rap-info/i2777.asp
12 – https://www.rts.ch/info/monde/1044646-gabon-election-contestee-d-ali-bongo.html
13 – https://www.foi.se/rest-api/report/FOI%20Memo%206814
14 – https://ecfr.eu/special/sahel_mapping/operation_barkhane
15 – http://www.west-africa-brief.org/content/en/g5-sahel-and-its-joint-force
16 – https://www.europenowjournal.org/2018/02/28/sarko-viens-chercher-ali-gabon-and-the-enduring-legacies-of-frances-francafrique-system-in-francophone-africa/
17 – https://www.stopblablacam.com/economy-and-politics/0608-1965-jacques-chirac-did-say-this-about-africa
source
About The Author
IRAQ GDP after all the conflicts and bombing 756 billion Guyana so called booming economy GDP 75 billion. I am a Guyanese and nothing has changed
Exactly have to do with oil. Small country under a million people. Money is too large this does make common sense. Compare to 40 million people. As a canadian.
Now that it has reached a GDP per capita (PPP) higher than usa , it should diversify it fast by focusing on science, technology and finance , it can bring in startups with lucrative visa from around the world
We will see, I am very familiar with Indo and Afro Guyanese people, I know they had bad conflicts in the past.
Guyana isn’t tiny. It’s bigger than England
Yes there is corruption thanks for pointing out that. You have said the disadvantages of the oil curse
Wonderful news Sir thank you
ez peazy. All Guyana has to do is to block the admission of the dutch, which are extremly cheap anyway. who cares about sugar and rice when you can export One Million Barrels a day
i will migrate to guyana, live and make the guyanese dream come true if everything goes well.
Trinidad jus stepped into the chat
Not true.
What about Venezuela, a lot of Oil there's ???
Esequibo belongs to Venezuela, sooner or later
hopefully it wont end up like venezuela
The government in Guyana can pay their expenses just with the taxes of the oil. They could drop all other taxes to 0%. Pretty good
As a typically cynical Guyanese (where Guyana's future is concerned) I'm hopeful and frankly optimistic that the country will be successful with its new found wealth. Here's why … this is SOOOO MUCH wealth that even if the "usual suspects" line their pockets and misappropriate it, (a nice word for THIEFING! lol) enough will filter down to make the country and its people prosperous. Remember, it's a small country (literally) and a EXTREMELY small population. So … PER CAPITA there is enough wealth for success DESPITE the potential (and inevitable?) for rampant corruption and mismanagement.
I am sorry for doubting your sources but from Wikipedia I learned that "As elsewhere in France, the official language is standard French, but each ethnic community has its own language". And the country's population is 300 000 not 800 000. It used to be a French colony and now it is a part of France.
God.bless.Guyana.
This is such an interesting situation because it can go one of two ways. It can either go the way of Saudi Arabia and become rich, or squander it all and become like Venezuala. This one is seriously a coin flip. It just depends on how much corruption is involved, and there will be shitloads of corruption. I lived in Guyana in 1995 and it was a mess. I am hoping that all that oil money will get invested into infrastructure projects because Guyana needs to redo its entire infrastructure system. If they could clean up Georgetown massively and turn it into a tourist destination it would be the best possible outcome.
Well most of that oil field is in Venezuela…so that can disappear in 1 second
Build the roads,internet connection,education and health infrastructure. After that invest in industries and tourism. If the oil money only for consumption,it would be a waste. In the next 25-30 years oil would not be as demanded as now.
Do you consider England a small country when England can fit into Guyana?
The government should invest in more high rise residential buildings and centralize living in its urban space this will increase the standard of living for the people.this should be attainable if the corruption doesn't intervene
If they deal with the energy cost before 2025 we might be seeing re-election for the incumbent government. Gas to shore is the plan and a pretty fast way to cut the cost of living and doing business for everyone. Just running grocery store refrigerators is bad enough, I could only imagine machines.
WRONG MAP! 😡
2:18
Unless you have Barbados.
As usual, some typical Guyanese, are here talking, nonsense. I have never met a Guyanese who is not an expert in everything, even though some of them has never finished high school or higher education. Even as a little boy growing up in Guyana, you can hear all the rumors about everything, everybody and etc. from older folks. We are a rumor mongering society and people. If you need to know something, ask a Guyanese person. They would tell something or give you an answer, even if it is a lie, a rumor, falsehood, untruths, not factual and etc.
well its been some years since we have the oil money, and we dont have no dutch disease and for sure we will never, get it as for the political situation Africians do not only vote for the PNC/R they vote for the PPP/C GOVERNING party in very large numbers, and you are hinting there should be a coalation Gov which we will not do and its a recipe for desaster, and we know why they want a a coailation gov ie europe and Biden america, is because the country can fail and fall in to poverty, and the one world Gov can control it. Guyanese are smart people, and its a peaceful country unlike America where blacks get shot, we dont have this in Guyana, so we have a big political devide, is a good thing Guyana is the only country have it as we would never have progressed as we have. But of course uk does not have a big political devide or America, they love one another, ha ha ha, we IN Guyana know the wef and the one world secret Gov want to over throw the Gov but they will fail. What Guyana you talk about was in the 70-80s etc . when all people who hate Guyana describe it as a race war is happening, and there is a dutch disease, there is a vast pulution problem, there is terrible curruption, there is starvation, these are all foreigners reports all the time. but now they are playing the race card for all its worth. amazon warrior
and that's the tiny south american country Guyana, Guyana big as the UK lol
Libya is first
GDP is outdated, it was made during the height of WW2, when most countries were doing production for war. it wasn't long ago that the UN created something that describe a countries wealth and over money from everyone and everything and not just products. called inclusive wealth! in a nutshell, inclusive wealth represents economists most systematic effort to date to calculate a states wealth in a way that is better then GDP. it solves the problem from only using GDP…GDP only measure the flow, where as inclusive wealth measure the stock, china's quarterly profits are high but the balance sheet, well its not! as deep as the US. because inclusive wealth measure the pool of resources a government can conceivably draw on to achieve its strategic objectives, its the more useful metric when thinking about geopolitical competition. when calculating inclusive wealth you consider several things. manufactured capital, like roads, building machines and equipment…second is human capital, which is the level of skill education and health of population…last is the natural capital of the nation like oil, arable land and with these three, you get a better picture and a more accurate measurement of an economy of a country and its strength. the USA inclusive wealth is ~144 trillion dollars, china in comparison is ~ 32 trillion dollars. so china is FAR behind the US. even what china has at the bank, the US is significantly more already.
Hmmmmm I hope it will b and many Guyanese will return to hometown….but with all that corruption I doubt ut will happen
I hope Guyana doesn't mess it up like Nigeria and implement new Zealand style
Guiana is likely very aware of the resource curse because of their neighbour so hopefully they will evade it.
Wait so we grew during the pandemic anyway?
The western border is formed by the low-water mark on the left bank of the Corantijn, from origin to mouth. The border therefore runs from a point yet to be determined on the southern border to the origin of the Boven-Corantijn, then from this origin along the low-water line on the left bank of the Boven-Corantijn and the Corantijn to the point where the shoreline in the coastline and from this point along a line with a direction 10 degrees east of True North through the territorial sea, without prejudice to the rights accruing to the Sovereign Republic of Suriname as a coastal state under international law in the part of the territory bounded by the continuation of this line the sea area.
There is no New River. The name of New River is Boven Corantijn.
A river has an origin and an endpoint.
The origin of the Corantijn River is at the Boven Corantijn in the south of Suriname and Guyana and the terminus is at the mouth in the north at the Corantijn River.
The entire length and width of the Boven Corantijn River in the South to its mouth in the North in the Atlantic Ocean is Surinamese territory.
Guyana almost would not be the only English-speaking country in South America…if the British had succeeded in capturing Buenos Aires in 1807 and thereby take over the Rio de la Plata region and, later on, all of the Southern Cone east of the Andes.
As a Guyanese I can confirm that those in the comments are very bias towards their losing party
Next talk about economic regression over the last 50 years .. 200% for the next 10 years will still not make up for last 50 yrs
Let me add my voice to the chorus of Guyanese skeptics. Just look at Venezuela next door. Oil was fantastic! The oil industry will channel all the $$$ towards Goldman Sachs!
Corruption will never end , high inflation and people will get more poor others getting richer the government living highen life others suffer in poverty more inflation
That's not a country… it's a small village.
GDP is very misleading. Guyana population is only seven hundred thousand people. Guyana has no manufacturing export but US still wants Guyana to pay for their manufacturing green house gases and Global warming agendas. US will Ensure Guyana go down like Venezuela in the near future like back to the 70s. I am Guyanese who decided to migrate to North America looking for better Life for my family like so many others. Be Ware that US can do that again. others comments already have similar views as mine. Just go back to our history 5 decades ago. US ExxonMobil control what Guyana getting and Oil prices in Guyana as well.
ALL LIES WORD TO GOD MORE THAN HALF OF THE PEOPLE'S HERE IS IN POVERTY .. THIS IS SOMEONE WHO LIVED IN THE USA MORE THAN HALF OF MY LIFE…. GOVERNMENT OFFICIALS HERE IS F UP HERE SERIOUSLY BLACK OR INDIAN DOESN'T MATTER WHO'S IN POWER… MAY GOD BLESS GUYANA AND IT'S PEOPLE'S LIVES 12/2022
The investors are make the money and exporting it north
Congratulations on your new found wealth and riches Exxon.
GDP growth is not a reflection of the quality of life, which is a shame. Taking into consideration that contract which Guyana has signed, well, the citizens are not benefitting positively, so there will not be any prosperity to the majority of citizens anytime soon. Don't even talk about sugar in Guyana, the sugar industry is leaking money and obviously they are not fixing GUYSUCO anytime soon.
Guyana, being a country with some many natural resources is a shame when it comes to development manifestation.