Economic Overview
The guyanese economy exhibited moderate economic growth in 2001-07, based on expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations. economic recovery since the 2005 flood-related contraction has been buoyed by increases in remittances and foreign direct investment. chronic problems include a shortage of skilled labor and a deficient infrastructure. the government is juggling a sizable external debt against the urgent need for expanded public investment. in march 2007, the inter-american development bank, guyana's principal donor, canceled guyana's nearly $470 million debt, equivalent to nearly 48% of gdp. the bauxite mining sector should benefit in the near term from restructuring and partial privatization, and the state-owned sugar industry will conduct efficiency increasing modernizations. export earnings from agriculture and mining have fallen sharply, while the import bill has risen, driven by higher energy prices. guyana's entrance into the caricom single market and economy (csme) in january 2006 will broaden the country's export market, primarily in the raw materials sector.
Environmental Issues
Water pollution from sewage and agricultural and industrial chemicals; deforestation
Government Type
Republic
Population
770,794
note: estimates for this country explicitly take into account the effects of excess mortality due to aids; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (july 2008 est.)
Location
Northern south america, bordering the north atlantic ocean, between suriname and venezuela
Area
Total: 214,970 sq km
land: 196,850 sq km
water: 18,120 sq km
Slightly smaller than idaho
Country Aliases
Conventional long form: cooperative republic of guyana
conventional short form: guyana
former: british guiana
Capital
Name: georgetown
geographic coordinates: 6 48 n, 58 10 w
time difference: utc-4 (1 hour ahead of washington, dc during standard time)
Military Service
18-25 years of age for voluntary military service; no conscription (2008)
International Disputes
All of the area west of the essequibo river is claimed by venezuela preventing any discussion of a maritime boundary; guyana has expressed its intention to join barbados in asserting claims before unclos that trinidad and tobago's maritime boundary with venezuela extends into their waters; suriname claims a triangle of land between the new and kutari/koetari rivers in a historic dispute over the headwaters of the courantyne; guyana seeks arbitration under provisions of the un convention on the law of the sea (unclos) to resolve the long-standing dispute with suriname over the axis of the territorial sea boundary in potentially oil-rich waters
Sources: Central Intelligence Agency (CIA)
