Guyana Is World’s Most Booming Economy — And Is Set to Grow 38% This Year
(www.bloomberg.com)
from MicroWave@lemmy.world to world@lemmy.world on 18 Sep 2023 11:29
https://lemmy.world/post/5283354
from MicroWave@lemmy.world to world@lemmy.world on 18 Sep 2023 11:29
https://lemmy.world/post/5283354
Guyana’s economy will expand 38% this year as a wave of oil wealth transforms the South American nation, the International Monetary Fund said Monday.
Massive offshore oil deposits first drilled by Exxon Mobil Corp. in 2015 have allowed the economy to quadruple in size over the last five years, with rapid growth projected to continue for some time.
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Dutch disease incoming in 3...2...1,
They’ve effectively already sold all their oil to Exxon for a pittance.
Democracy is only necessary if the government were to do something terrible. Like: Nationalize the oil wells, or refuse to sell to American companies, or God forbid, demand a fair price for their oil.
This is a topic of interest but this article is behind a paywall.
Fuck the economy.
Will the citizens of the country see a 38% increase to their way of life? Will they even see a 3.8% from this?
No one cares if numbers on a chart go up if it’s decoupled from people’s reality.