Economics
World’s Fastest-Growing Economy Seeks to Diversify Away From Oil
- Guyana President Irfaan Ali lays out plan during US vist
- Nation’s economy to grow 47% this year, according to IMF
Guyana’s President Mohamed Irfaan Ali
Photographer: Patrick T. Fallon/AFP/Getty ImagesThis article is for subscribers only.
Guyana, the world’s fastest-growing economy, plans to use its newfound oil and gas wealth to fund investments in other sectors that will reduce its dependence on hydrocarbons, its president said.
The government wants to use the revenues from its massive offshore oil deposits to finance investments in mining, tourism, agriculture and other sectors, President Mohamed Irfaan Ali said during a trip to the US.