Managing Guyana’s Oil Wealth: Monetary and Exchange Rate Policy Considerations

Download or read book Managing Guyana’s Oil Wealth: Monetary and Exchange Rate Policy Considerations written by Ms. Rina Bhattacharya and published by International Monetary Fund. This book was released on 2022-11-11 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: International oil producers have discovered commercially recoverable petroleum reserves of around 11 billion barrels that promise to transform Guyana's agricultural and mining economy into an oil powerhouse, while hopefully helping to diversify the non-oil economy. Oil production presents a momentous opportunity to boost inclusive growth and diversify the economy providing resources to address human development needs and infrastructure gaps. At the same time, it presents important policy challenges relating to effective and prudent management of the nation’s oil wealth. This study focusses on one of these challenges: the appropriate monetary policy and exchange rate framework for Guyana as it transitions to a major oil exporter.