The government of Guyana is today advancing a strategy designed to maintain strict control of its resources under the watchful eye of the International Monetary Fund (IMF).

Georgetown.- Minister of Parliamentary Affairs and Governance, Gail Teixeira, met with an IMF team to discuss the annual Article IV process.

The consultations covered a range of issues, including financial, fiscal, monetary, structural, and exchange rate policies.

The dispatch explains that the Article IV process is a report on the State’s progress with respect to Guyana’s anti-corruption architecture at the international level.

The report by the digital newspaper Stabroek News recalls that, in 2023, the IMF praised the Government of Guyana for its economic management, including the implementation of policies and initiatives aimed at transforming the economy.

Guyana could transform inflationary pressures with a set of measures in 2022 and 2023, which contributed to a decrease in the inflation rate in 2023.

The IMF and the Guyanese government report stated that the government’s current expansionary fiscal policy is appropriate, given the country’s development needs, and is adequately balanced by monetary policy.

The economy climbed three notches thanks to oil production, and there are no signs of inflationary pressures. (PL)