[Home]Guyana

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The Co-operative Republic of Guyana is a nation of northeastern South America. Guyana achieved independence from the United Kingdom in 1966 and became a republic in 1970. In 1989 Guyana launched an Economic Recovery Program, which marked a dramatic reversal from a state-controlled, socialist economy towards a more open, free market system. Results through the first decade have proven encouraging.

Severe drought and political turmoil contributed to Guyana's negative growth of -1.8% for 1998 following six straight years of growth of 5% or better. Growth came back to a positive 1.8% in 1999. Underlying growth factors have included expansion in the key agricultural and mining sectors, a more favorable atmosphere for business initiative, a more realistic exchange rate, a moderate inflation rate, and continued support by international organizations. President [Bharatt Jagdeo]?, the former finance minister, is taking steps to reform the economy, including drafting an investment code and restructuring the inefficient and unresponsive public sector. Problems include a shortage of skilled labor and an inadequate and poorly maintained transportation system, as well as a shortage of electricity.

The capital is Georgetown?.

From the CIA World Factbook 2000 and the U.S. Department of State website. Not Wikified.


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Last edited November 1, 2001 8:51 am by Corvus13 (diff)
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