Minister of Parliamentary Affairs and Governance, Gail Teixeira, met with an IMF team to discuss the annual Article IV process.

The consultations covered a range of issues, including financial, fiscal, monetary, structural and exchange rate policies.

The dispatch explains that the Article IV process is a report on the State’s progress with respect to Guyana’s anti-corruption architecture at the international level.

The text-reported by the digital newspaper Stabroek News-recalls that in 2023 the IMF praised the Government of Guyana for its economic management, including the implementation of policies and initiatives aimed at transforming the economy.

Guyana was able to transform inflationary pressures with a set of measures in 2022 and 2023, which contributed to a decrease in the inflation rate in 2023.

The IMF and the Guyanese government report stated that the government’s current expansionary fiscal policy is appropriate, given the country’s development needs, and is adequately balanced by monetary policy.

The economy thanks to oil production climbed three notches, and there are no signs of inflationary pressures.

jrr/jav/mem/joe