The International Monetary Fund (IMF) has lauded many of the government policies implemented to strengthen institutions and promote economic growth, even as it stressed that existing gaps must be addressed.
In a report issued following its 2026 Article IV Consultation with Guyana, the IMF noted concerted efforts to enhance human capital, from free university education, which has contributed to a 45% increase in enrolment, to local content measures that create opportunities specifically for Guyanese in the oil sector.
It also said strides have been made in raising agricultural production and diversifying Guyana’s energy mix, away from its current reliance on imported fossil fuels.
The IMF said the government’s focus on digitisation is also helping to strengthen public sector transparency and service delivery.
“The authorities are advancing digitalization, with an initial phase of comprehensive restructuring across healthcare, education, revenue administration, human and social services, and security. Once individual services are digitalized, they plan to develop interoperability across various management information systems to help coordinate services and improve efficiency,” the IMF said.
The IMF said public procurement is benefiting from digitisation, but added that it should be further strengthened.
“Steps taken include the launch of a centralized digital platform for government procurement opportunities in early 2026 and its expanded use to provide digital public access to project bids, alongside improved procurement staff training (with IDB support),” it noted.
“The government has also introduced a small business procurement program that mandates that at least 20 percent of government procurement be sourced from small businesses. Efforts should focus on consistent enforcement of transparent procurement rules and strengthened oversight.”
The Fund also said data collection, analysis, and publication should be improved to allow for adequate assessment of the country’s situation.
IMF staff usually visit each member country once a year for what is known as an Article IV Consultation. They meet government and central bank officials, as well as other groups such as business, labour, and civil society, to discuss the economy, including monetary and fiscal policy, the exchange rate, and structural reforms. Topics can also include climate change and digitisation.
After the visit, the staff write a report for the IMF’s Executive Board to discuss. The Board’s views are then shared with the country’s authorities, which completes the consultation.
Source: News Room Guyana
