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Managing Guyana’s $$ windfall*

Trinidad Express / Guyana is going to be a test case in what to do when a country is faced with a sudden influx of revenue for which it had not planned. If economics is the study of how to allocate resources, then Caricom’s headquarters territory will be giving the members of that profession considerable food for thought. Of course, you don’t have to be an economist to figure out the best way to use the windfall that will accrue to Guyana from the discovery, production and export of the crude oil that the world’s leading super-major, ExxonMobil, has found offshore in its Stabroek block. About 100,000 barrels a day (b/d) will be exported initially, building up quickly to about 200,000 b/d, which will provide what can only be described as a fortune for what has been one of Caricom’s poorest countries.

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