Guyana's Oil Boom and Rising Debt | Guyana News

Guyana’s oil boom hasn’t brought the prosperity it promised—despite pumping over $100 billion in oil, the national debt has exploded from $1.7 billion to over $10 billion. While the country once earned under $1.5 billion annually from gold, rice, and timber, today’s wealth is vanishing as dollars dwindle and businesses struggle to pay overseas bills. A nationwide protest tried to halt this slide, but cash grants funded by loans are being celebrated—leaving many to wonder if Guyana is headed down the same path as Venezuela or other resource-rich nations where extraction fuels debt, not growth. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f0306432f7ef2708