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Guyana - private sector development, Volume 1
 
Collection Title:A World Bank country studyCountry:Guyana;
Date Stored:2003/08/01Document Date:1993/10/31
Document Type:PublicationISBN:ISBN 0-8213-2646-5
Language:EnglishMajor Sector:(Historic)Private Sector Development
Region:Latin America & CaribbeanReport Number:12409
Sub Sectors:(Historic)Privatization-DVSubTopics:Environmental Economics & Policies; Economic Theory & Research; National Governance; Health Economics & Finance; Public Sector Economics
Volume No:1  

Summary: This report recommends measures to improve the private sector in Guyana in order to continue and sustain economic recovery, particularly through increased ownership and legal and regulatory reform. For more than two decades the public sector dominated the economic activities resulting in a decline in output and deterioration in the country's economic and social infrastructure. A reform process eliminating most price controls, freeing interest rates, establishing a market based exchange rate mechanism, and removing most trade restrictions has improved efficiency and increased confidence in the economic policy. The report recommends that the government define a privatization policy which should include most of the companies now managed by the government. A privatization program for the financial sector should also be implemented which will encourage competition in the sector and will sell the remaining government shares in the sector. Finally, the report recommends reform in the regulatory structure in all major commercial sectors and improvements in the incentives in the mining, agriculture, forestry and tourism sectors.

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