Guyana

In August 2018, the Guyana government produced a Green Paper on ‘Managing Petroleum Revenues and Establishment of a Fiscal Rule and a Sovereign Wealth Fund’. The details of what eventually emerges in law and in practice is, as we have explained above, subject to post-election revision, but the general direction of travel is clear. Guyana, at least under its current government, is determined to take the best advice and to establish a regime for dealing with the imminent stream of oil revenue that ensures it avoids the pitfalls that so many other countries have failed to avoid.