Challenges and Opportunities in Managing Guyana's Oil Wealth
Article from: OGEL 2 (2020), in Energy, Institutional Reforms and Development in Latin America
Abstract
Guyana is on the verge of becoming an oil-rich country following large discoveries off the coast in 2015. Based on independent projections, we review the possible public finance implications of the substantial revenues expected from the Liza oil field. If these prove to be accurate, petroleum receipts during their peak could double Guyana's national budget. That said, these large revenues are at least a decade away. Based on our analysis of Guyana's economy and oil sector potential and a review of international experience on oil revenue management, we map out policy ...