#Oil Boom

Guyana: A Financial History — From the Sugar Colony to the Oil Boom and the Fastest-Growing Economy on Earth

This article examines the financial history of Guyana, from its colonial origins as a Dutch and British sugar-producing colony to the implementation of state-directed socialism under Forbes Burnham. It details the macroeconomic collapse of the 1980s, the IMF-backed structural adjustments of the 1990s, and the monumental 2015 oil discoveries in the Stabroek Block. Finally, it explores the central banking operations of the Bank of Guyana as it manages unprecedented gross domestic product growth.