Global economy is in crash, a country still growing

The global economy is in the crash and facing the worst situation due to coronavirus pandemic. Major economies of the world are on the verge of recession. There is one small South American nation that is still growing.

Guyana is a country in South America. As per the forecast, Guyana’s economy to grow with a pace of more than 50 percent this year. Well, that does not matters that the global economy is in the crash and can fall anytime. Even Jungles densely cover this country. As per the report of the International Monetary Fund (IMF), Guyana is the only country in America with a positive growth trend in 2020.

In March, Presidential elections took place. President David Granger came out victorious. A representative from various countries like U.S., Canada, European Union, and the U.K. claimed elections were not transparent. President sworn on this basis won’t be legitimate. Guyana received a warning from its allies and the U.S.

After the coronavirus pandemic, inside a political crisis and massive fall in the crude oil prices still dented the partial growth of the country. In October last year, IMF forecasted growth of 86 percent. Well, the global economy is in the crash. However, Guyana is working to grow as one of the major crude oil producers. Many energy companies like China’s CNOOC Ltd, Exxon Mobil Corp, and Tullow Oil Plc, etc. have investments in the country. As per the Exxon Mobil Corp forecast, Guyana will start producing crude oil more than 750,000 barrels per day (BPD) till the end of 2025.

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