Border Feuds May Prove Costly...And Cries Of "Sell Out" ResoundChristina Hoag
Guyana, South America's poorest nation, started the new millennium thinking it was ushering in a new economic era. Over the past year, the government has awarded four new offshore oil-exploration concessions, worth around $50 million, and signed a contract for a $100 million satellite launchpad project--no small feat for this former British colony of 800,000, perched on South America's remote eastern shoulder, where direct foreign investment totals just $350 million. But nothing, it seems, is simple for a poor country: Publicity about the new projects has revived century-old border disputes with neighbors Venezuela and Suriname, making Guyana's millennium look a lot less bright. "We're obviously disappointed," says Prime Minister Samuel Hinds. "We would hope that potential investors would not be put off."
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