International Politicseconomy News

"Unveiling Guyana's Oil Boom: Triumphs and Challenges"

Guyana's rapid economic growth, driven by a 2015 oil discovery, has made it the world's fastest-growing economy, but it now faces a territorial dispute with neighboring Venezuela over the annexation of Essequibo. Despite Venezuela's large oil reserves, its economy has collapsed under Maduro's rule. Guyana's newfound confidence is supported by international law and alliances, but concerns remain about the country's weak democratic institutions and potential for the "resource curse."