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Oil wealth: Gigantic economic growth for Guyana

Massive oil deposits off the coast of Guyana could transform the wealth of the small South American country.

Economic growth in the state on South America's Atlantic coast, which borders Brazil to the south and west, Venezuela to the northwest, and Suriname to the east, could reach nearly 60% this year.

On Tuesday, September 27, the International Monetary Fund (IMF) urged cautious policies even as the tiny South American nation benefits from rising oil production.

"The overall real GDP growth rate is estimated at 57.8% in 2022," the IMF stated.

It expects oil production to more than double . . .

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