Tag: guyana

Guyana’s economy will expand 38% this year as a wave of oil wealth transforms the South American nation, the International Monetary Fund said Monday. Massive offshore oil deposits first drilled by Exxon Mobil Corp in 2015 have allowed the economy to quadruple in size over the last five years, with rapid growth projected to continue for some time. “The outlook for medium-term growth is better than ever before,” the IMF said in a report. “Oil production will continue to expand rapidly as three new approved fields will come...