Iva Wharton
The World Bank says Guyana’s oil boom is unlike anything else in the region. It warns that the government must now make sure the wealth reaches all Guyanese.
In its October 2026 Latin America and the Caribbean Economic Update, the Bank says Guyana’s “unprecedented oil-driven expansion” continues to lift growth across the Caribbean. It expects Guyana’s economy to grow 23.7 percent this year, up from 19.3 percent in 2025. The region as a whole is expected to grow just 2.2 percent.
The report says Guyana has recorded “exceptionally rapid and sustained” growth since 2020, driven by the scaling up of offshore oil production. That growth has brought rising government revenues, stronger external balances and a falling debt-to-GDP ratio.
But the World Bank says the speed of this growth also brings responsibilities. Guyana needs to strengthen how it manages public investment, build institutional capacity, and make sure oil wealth turns into what the report calls “broad-based and inclusive development.”
The Bank also warns that oil-producing countries such as Guyana face a separate challenge. They must manage swings in oil revenue and avoid spending too heavily in the good years while public finances grow rapidly.
The World Bank expects Guyana’s growth to slow to 18.7 percent in 2027 and 15.3 percent in 2028. Even so, Guyana would remain far ahead of the rest of the region.