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Guyana - Public sector review, Volume 1
 
Collection Title:A World Bank country studyCountry:Guyana;
Date Stored:2003/08/01Document Date:1993/10/31
Document Type:PublicationSubTopics:Environmental Economics & Policies; Economic Theory & Research; National Governance; Banks & Banking Reform; Public Sector Economics
ISBN:ISBN 0-8213-2645-7Language:English
Major Sector:Public Administration, Law, and JusticeRegion:Latin America & Caribbean
Report Number:12428Sub Sectors:(Historic)Other public sector management
Volume No:1  

Summary: Guyana has abundant natural resources, yet its per capita gross national product (GNP), $290 in 1991, is the lowest in the western hemisphere. This is in large part a direct consequence of the increasingly dominant role that the state played in the economy after independence. All major economic activities were subject to state intervention, either directly through state ownership, or indirectly through price, credit, and foreign exchange controls. Private initiative was discouraged. These policies resulted in a rapid decline in output in the 1980s, the exodus of many of the better-educated and more highly skilled workers, and severe deterioration in the economic and social infrastructure and the provision of public services. The purpose of the report is to examine the role of the public sector and to identify priority areas where the government should focus its limited resources to address Guyana's key development issues within the framework of the Economic Recovery Program. The report also assesses the need for further external assistance and debt relief to achieve external viability and sustainable growth. The organization of the report reflects the major tasks facing the government: to maintain a sound macroeconomic framework; to improve public sector management and administration; and to define sector strategies and expenditures. The central importance of an increased role for the private sector in Guyana's development is a theme that runs throughout the report.

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