Guyana’s economy will expand 38% this year as a wave of oil wealth transforms the South American nation, the International Monetary Fund said Monday.
Massive offshore oil deposits first drilled by Exxon Mobil Corp. in 2015 have allowed the economy to quadruple in size over the last five years, with rapid growth projected to continue for some time.
Dutch disease incoming in 3…2…1,
Fuck the economy.
Will the citizens of the country see a 38% increase to their way of life? Will they even see a 3.8% from this?
No one cares if numbers on a chart go up if it’s decoupled from people’s reality.
This is a topic of interest but this article is behind a paywall.
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They’ve effectively already sold all their oil to Exxon for a pittance.
Democracy is only necessary if the government were to do something terrible. Like: Nationalize the oil wells, or refuse to sell to American companies, or God forbid, demand a fair price for their oil.
