It sounds like the people of Guyana understand what’s happening to their peers and are taking steps to avoid that, hopefully they are successful in endeavor.
Resources come and go. I hope they are wise enough to invest the windfall in education, infrastructure and health. This way, whatever happens next, the nation's people will be well equipped to make the most of it.
Easy invite Norwegian politicians over with the goal of creating a fund for the people of Guyana so they become the richest in the world and have a national fund that can invest further in their country
@@jayyy3456 Guyanas leading party calls itself marxist-leninist. Guyana might have some issues with Venezuela, because of Maduros colonial claims, but in the end they are pretty much the same bunch of people. In which world would a marxist leninist party allow itself to cooperate with capitalist USA?
Actually, the floods of 2021 were the worst in 20 years. But the economy was more resilient with the oil funds. Surprisingly, the capital was spared because they had invested a few years earlier in a canal to drain large amounts of water away from the city. That's where a large chunk of the oil funds will go, to climate adaptation. Also, glad Guyana got featured I watch this channel often. Cheers from Guyana🇬🇾. 🥂🥂
@@newwonderer My LOVE for Ukraine is only surpassed by the US, UK and Israel. SLAVA UKRAINIA SLAVA BELARUS SLAVA DAGESTAN SLAVA INGUSHETIA SLAVA CHECHENYA. SLAVA, SLAVA, SLAVA!!!!!
Best of luck, it would be nice if a country even managed to avoid much of the resource curse and come out ahead. There's been a few countries before, so it certainly can be done.
I hope the government use the money to eradicate poverty, and develop the country infrastructure, healthcare and education for all the people of Guyana .🇬🇾🇺🇸🇮🇳
@@splurgeverse521 You mean investment of the SWF outside of the Guyana to create a diverse portfolio? Did the video imply or outright claim that it was being invested in a specific way that you may disagree with?
Someone hit the jackpot. Hope that Guyana manages its resources well and avoid the mistakes neighboor Venezuela did. As to me I think I'm going to renew my passport ...
Hoping? I'm not hoping. I don't mind. But I don't have interest in Guyana when both I and my own country (same country as you) has problems. Why would "we" "all" hope for Guyana to get rich? My hopes are on my own country to make healthcare affordable before I start worrying about the Guyanese.
They also joined the Regional Security System 2022 putting them in a military alliance with Antigua and Barbuda, Barbados, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. While not a large, it does expand their sphere of influence in the region.
Guyana's demographic is so diverse, with people from Indian, African (Black), White and Chinese descent. Also don't forget a dozen of indigenous amazonian tribe. Guyana society were very tolerant, like for example, imagine country in American continent that currently lead by a Muslim (Irfaan Ali), and what also interesting is that Guyana first president was Chinese
Guyana is very similar to Suriname, its neighbour country. In the aspect of history, demographics and natural resources. I can only hope Suriname will follow Guyana's example and lift themselves out of harsh poverty.
Great stuff! I am interested in international relations, which I actually studied (but in the end did not make my professional career). And the story of Guyana is something I didn't have on my radar at all.
Shoutout to Guyana! Hopefully the country keeps going down the right path. The stories my family told me about Guyana back in the day was about violence and poverty. Fingers crossed
A lot of us who were born after 1978 all we heard about Guyana 🇬🇾 is the negativity of the country and the evil of Jim Jones. God has answered Guyana's prayers 🇬🇾 So now, it is up to the leaders and the people to move Guyana forward in a positive way. Those in authority need to manage the resources and finances properly in developing the country. There are good potential for Guyana 🇬🇾 and it's people once the government don't get too greedy and corrupt.
I greatly appreciate your channel for providing me with valuable insights on the latest developments in countries that are not typically on my radar. Thanks to your content, I have been able to expand my knowledge and overcome my preconceptions.
The Guyanese don't have the population to invest in massive infrastructure projects. What they should be doing, I think, is buying up shares in energy companies, giving, partnering with some countries to trade portions of their oil resources for free college educations for their people and to increase the power of their Visas, investing in their fisheries and their agriculture and hydroponic technologies. The Guyanese would do well to prepare themselves for Africa's coming population of 4 billion, which will drive global food prices through the roof.
@@gabesteinberg6244 Yeah, the problem with super population is way more than feeding. Just the fact that more males are born than females causes instability.
Almost half a million Guyanese live in the diaspora & many would gladly return on top of that being part of Caricom Guyana can push for major reforms that allow freedom of movement of members & then there would likely be mass movement from other Caribbean countries especially from Haiti & English speaking Caribbean countries along with some people of other Caribbean diaspora living in the US, UK, Canada, & Netherlands
Way to go Guyana! Hope you can become as wealthy as Qatar, without the very unethical policies. They'll need to import hands for the projects this new wealth will make possible.
@@mrsupremegascon there is no slavery. And forced labor is banned too. If you mean harsh treatment of workers, well this is free market, where every worker has the right to work hard
@@mrsupremegascon what slavery? I hope you're not referring to the Kafaalah system which was instituted by the British during colonial rule in Qatar which only ended in the 1970s. This system was the privatisation of visa issuance, employment contracts, housing and policing of the foreign workers. This system predated Qatar's independence and with a population of just 300k they haven't had the capacity to create the bureaucratic institutions necessary to nationalise these responsibilities. Qatar will tender a construction/service contract which is won by European or US companies that provide the architectural design, engineering consideration, logistics and resources procurement consulting... They then need the labour to build but Qatar doesn't have people so they turn to established labour vendors These labour vendors are PRIVATE employment companies that operate internationally that go to key markets like India, Pakistan ect who then have access to sizable skilled labour forces... Then the European or US company who won the bid for the project SUBCONTRACTS labour acquisition to this company. Because Qatar doesn't have enough people to staff the governmental depts necessary to oversee these people they CONTINUE with the British instituted Kafaalah system which basically means these companies are responsible for the workers entirely. Guess what though the European and American companies from 'liberal civilised societies' who compete for the bid could easily say to the labour vendors we mandate that you provide x, y and z to workers and we'll need to be able to monitor this otherwise you won't get the subcontract... But they don't because capitalism. So saying Qatar which has now spent enormous amounts of money creating civil service institutions to oversee, govern and regulate migrant workers thereby taking back control from the private sector. Qatar has 300k people that's man woman and child. There are over 1.4 million adult male foreign workers... The fact they've done this is remarkable
Guyana is at a crossroads. It can either go the path of the gulf states or venezuela and become an authoritarian petrostate. Or they can go the path of Norway and use their oil and gas wealth to improve the lives of their citizens. In order to do this they will need to resist the temptation to get favors and take the cash. They will need to: reform the government and strengthen democracy, modernize the Judiciary, invest heavily in education courting teachers from overseas and building a true world class university while offering full scholarships to their best and brightest to go overseas and get a quality education until the university opens, create a sovereign wealth fund through solid investments, spend billions to modernize their infrastructure, and most importantly of all make investment money widely available to entrepreneurs and develop a domestic IT sector and tech industry. If Guyana can follow this path and ride the last great oil wave into a brighter future they could see their future as the brightest of south America. Time will tell
The real challenge here is building state institutions that are functional enough and corruption-free enough to use this massive windfalls appropriately by investing it into long-term productive means (infrastructure, education, healthcare, etc.)
Thank you for covering my country.. I am happy you did, for I find your content on other topics not bias.. I hope you continue your coverage in the future on Guyana.. I love perspectives!!!
I hope bordering suriname will profit from this as well as that country is in some dire finencial straights while the oil deposits also in it's waters.
Great video. Something that I think would interest your viewers is to look at the post-soviet countries successes as well as failures. Russias grips on these nations and the reaction of them wanting to join NATO for protection in 2004-current.
With fertility rates being a hot topic and with governments trying to address it, which countries have actually made strides in raising fertility rates and how are they doing it? Alternatively, which countries are trying to address the problem and are failing at it?
Looking at Hungary, it is working there, but the problem is that adults are still leaving the country for places like Germany. So this could create financial problems related to keeping it going
@@dylangtech Maybe those adults would have some actual reason to stay if Orbán's Hungary didn't have the oh-so prestigious title of most corrupt country in the EU.
I’m very excited about the future of Guyana I especially wonder how they will utilize their geographic location in the future as a gateway to the southern hemisphere
I’m already hearing that Guyanese are having a wider rich vs poor divide and the amount of EXPATS coming in has inflated their currency making things harder to avoid Simply put in kinda terrified they may become another Venezuela.
Guyana and Suriname needs to work together in the Oil and Gas Sectors. Guyana also needs to get help to build strong Oil and Gas institutions from the Persian Gulf Nations. The Guyana leaders needs to take controlled of all the Oil and build and Oil refinery in Guyana.
This same year guyana will be producing 200,000 more barrels in a day .a new oil ship will start production . So at least 540,000 barrels a day for 2023.
@@ramr7051 venuezuela is getting so poor so fast that no one truly know it's stable gdp nominal .it was one of the wealthiest in southamerica . Guyana is the opposite of Venezuela we grew so fast that no one can predict our gdp . It's always higher than we expect .
Shortly after the video on Indonesia, here is another one on a country that we seldom hear about. Again, we learn that we should pay more attention. Thank you GTBT!
From what I heard that Guyana 🇬🇾 was once a rich country before Jim Jones came there in 1978. I don't know how true that was but for now, God has the prayers of the Guyana 🇬🇾 people.
Hey Guyana Wish all the Success in the World,your story is inspiration to all 3rd world countries around the world......... Love and Greetings from Tanzania 🙌🏾
I think example of Guyana is a good example of inspiration to change way of development into better side for many countries en good example for making better trying protection of environment and in the same time going to more prosperity of country and people.
Your channel is one of the few on my radar that actively informs me about developments in countries I don't usually think about. Thank you so much for helping me overcome my bias!
I swear I've seen so many of these videos of countries getting incredible growth and being proclaimed as the fastest growing (blank) that I honestly have fun hedging my bets against them, everytime I do I hope I'm wrong
@@abiku2923 If u play as Spain and there is a whaling square adjacent.
ปีที่แล้ว
Dutch disease is a bit more specific. Not a general, 'chaos and corruption' thing. Those are also possible, but they are not covered under Dutch disease.
I hired some guyanans back in 2013 and found them to be smart, and capable, with great technical and customer skills. Like Ukrainians, but better English.
If I were them I would follow the Norway model. Use the profits to build your economy and invest in a sovereign wealth fund that pays out to all your citizens. This way when the oil runs out it won't make one bit of difference.
My grandmother had a friend from Guyana who once made a comment to me about what she called that country's "ethnic cleansing." I had no idea what Guyana's racial strife looked like, but her comment made me look into it. The conflict between her people, the African Guyanese, and Indian Guyanese is much more intense than I realized before she said that!!
My aunts and uncles said the same thing to me too. The next generation needs to move past radical differences and bring the country forward. Looks like 30-50% of the population are young which is a great base for growing wealth especially now with the oil $ to start things off.
I feel like it is important to address some of the criticism surrounding the deal between Exxon and the guyanese government. To start, 75% of the oil revenue goes towards paying off Exxon's expenses. This is typical of these types of deals, however, this contract stipulates that this money will also be used to pay off future well sites which may not even end up producing any oil. Under normal circumstances, Exxon would use the earnings of the future wells to pay themselves back, once said wells start producing oil. The guyanese people are not getting a 50/50 split at the moment and will have to pay back oil sites that don't even exist yet, before this becomes the case. On top of that, the 2% royalties received by the guyanese people is way less than what is usually received (12%-25%). Lastly, Guyana is new to the oil game and is pumping out oil at an unexpectedly fast pace. While they are trying to pay off the project's costs as soon as possible, the high rate of extraction and lack of experience exacerbates the threat of an oil spill which would compromise the conditions of the counties environment and other economies such as fishing (if this does happen, studies have shown that the oil could make its way throughout the Caribbean). This deal is far from great and with pressures to transition to renewable energy, it is really hard to say that Guyana will profit from this oil. Many other ressources such as sugar, gold and diamond are also found in Guyana and so far the people haven't gotten to see much of that money either.
With Venezuela being next door, and its economy crashing in recent memory, I would assume the Guyanan government is very careful with how they will be making use of the new cash source.
This growth comes with a big darkside that is if they don't invest in their own country's education, infrastructure and renewable energy quickly then they will fall or end up like Venezuela.
Hello I am Guyanese, and you have a few things wrong, first of all we were a middle income country for years, and we were not poor, why they said we were poor is because of what the avarge citizen was earning, it was low but people in Guyana had a better standard of living, than a lot of countries in south america, we only started to take out the oil money jan 2022, and the whole world expect every single Guyanese must be rich like the citizens of kuwait or Norway in two years, did Norway do it? so why you all expect it. the 18 Million was paid to the last Gov not this one and they were currupt like the EU , Now every foreigner come to Guyana and cries corruption yet they can not find any one in the Government who is corrupt, next thing is the Dutch didease we will not suffer from that as we dont depend on oil alone,we have a lot of other projects going, when you see so called Guyanese saying they are starving in a land of abundant food its foreigners pretending to be Guyanese and the opposation party members trying to bring discord. we will never become like Venezuela, or the Africian countries you mentioned, and because we are going forward we have a lot of foreign enemies and domestic enemies. amazon warrior
My question is, if there are this resources in the area then surely french Guyana and Suriname must have deposists also. Is there development in those areas also?
Yes, suriname has also found oil and will follow in Guyana's foot steps. French Guiana had some early promising success but things didn't worked out. I believe that they should keep trying. But right now nothing is going on there. Oil companies have put French Guiana on pause. I don't know why.
@@ianbynoe6515 thanx, that is interesting. If there ae strategic resourcesnone would think that france would hop on it as it would make the eu more independant.
@@jayyy3456 well I believe they funs french guyana through space industry amd I know the population is far lower so maybe they see it as non esential in france.
wrong, the wealthieast country in south america is Falklands, the whealthieast region is Brasilia federal district, the whealthiest municipality is Presidente Kennedy in Espirito Santo State Brazil, and whealthiest city is Balneário Camboriú in Santa Catarina state Brazil. Love Guyana glad they are becoming rich.
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Thank you for this video, Hubert. It is very nice.
Helder Manuel
It sounds like the people of Guyana understand what’s happening to their peers and are taking steps to avoid that, hopefully they are successful in endeavor.
They can't escape this though
th-cam.com/video/rjLmYCfKU7o/w-d-xo.html
Nah this is exactly what happened in neighbouring Venezuela, some hyperpopulist is gonna be president in a few years and nationalize the oil industry
Resources come and go. I hope they are wise enough to invest the windfall in education, infrastructure and health. This way, whatever happens next, the nation's people will be well equipped to make the most of it.
Guyana is lead by the same kind of people who also lead Venezuela. We all know what happened 2014 when the oil industry failed to sustain its profits.
@@derunfassbarebielecki Guyana's leadership is far from Venezuela's.
They should learn from Norway
Easy invite Norwegian politicians over with the goal of creating a fund for the people of Guyana so they become the richest in the world and have a national fund that can invest further in their country
@@jayyy3456 Guyanas leading party calls itself marxist-leninist. Guyana might have some issues with Venezuela, because of Maduros colonial claims, but in the end they are pretty much the same bunch of people. In which world would a marxist leninist party allow itself to cooperate with capitalist USA?
Actually, the floods of 2021 were the worst in 20 years. But the economy was more resilient with the oil funds. Surprisingly, the capital was spared because they had invested a few years earlier in a canal to drain large amounts of water away from the city. That's where a large chunk of the oil funds will go, to climate adaptation.
Also, glad Guyana got featured I watch this channel often. Cheers from Guyana🇬🇾. 🥂🥂
Hope you guys succeed and become a model for others to follow!
well done)
cheers from Ukraine!
@@newwonderer My LOVE for Ukraine is only surpassed by the US, UK and Israel.
SLAVA UKRAINIA
SLAVA BELARUS
SLAVA DAGESTAN
SLAVA INGUSHETIA
SLAVA CHECHENYA.
SLAVA, SLAVA, SLAVA!!!!!
Best of luck, it would be nice if a country even managed to avoid much of the resource curse and come out ahead. There's been a few countries before, so it certainly can be done.
this random statistics guy is always commenting on these kinds of vidds
I hope the government use the money to eradicate poverty, and develop the country infrastructure, healthcare and education for all the people of Guyana .🇬🇾🇺🇸🇮🇳
Wooo! Transparent sovereign wealth fund! Great job, Guyana! 🇬🇾🇺🇲
SWFs wont work without foreign investment
@@splurgeverse521 You mean investment of the SWF outside of the Guyana to create a diverse portfolio? Did the video imply or outright claim that it was being invested in a specific way that you may disagree with?
THEY NEED FREEDOM GRAHHHH 🇺🇲🇺🇲🇺🇲🦅🦅🦅
Someone hit the jackpot. Hope that Guyana manages its resources well and avoid the mistakes neighboor Venezuela did.
As to me I think I'm going to renew my passport ...
to go to Guyana?
Awesome video. We’re all hoping Guyana gets rich!! 🇺🇸🇬🇾
Lol
Hoping? I'm not hoping. I don't mind. But I don't have interest in Guyana when both I and my own country (same country as you) has problems. Why would "we" "all" hope for Guyana to get rich? My hopes are on my own country to make healthcare affordable before I start worrying about the Guyanese.
They also joined the Regional Security System 2022 putting them in a military alliance with Antigua and Barbuda, Barbados, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. While not a large, it does expand their sphere of influence in the region.
I dont think any of those countries will be able to stop a future Venezuelan invasion, though
Guyana's demographic is so diverse, with people from Indian, African (Black), White and Chinese descent. Also don't forget a dozen of indigenous amazonian tribe. Guyana society were very tolerant, like for example, imagine country in American continent that currently lead by a Muslim (Irfaan Ali), and what also interesting is that Guyana first president was Chinese
Guyana is very similar to Suriname, its neighbour country. In the aspect of history, demographics and natural resources. I can only hope Suriname will follow Guyana's example and lift themselves out of harsh poverty.
Follow their example and find oil you mean
@@FOLIPE They did, but getting the investment and a good deal with an oil company is very tricky and risky business.
Both countries without oil are resource rich. They survived before oil and will continue to do so after oil.
Great stuff!
I am interested in international relations, which I actually studied (but in the end did not make my professional career).
And the story of Guyana is something I didn't have on my radar at all.
Shoutout to Guyana! Hopefully the country keeps going down the right path. The stories my family told me about Guyana back in the day was about violence and poverty. Fingers crossed
A lot of us who were born after 1978 all we heard about Guyana 🇬🇾 is the negativity of the country and the evil of Jim Jones. God has answered Guyana's prayers 🇬🇾 So now, it is up to the leaders and the people to move Guyana forward in a positive way. Those in authority need to manage the resources and finances properly in developing the country. There are good potential for Guyana 🇬🇾 and it's people once the government don't get too greedy and corrupt.
I greatly appreciate your channel for providing me with valuable insights on the latest developments in countries that are not typically on my radar. Thanks to your content, I have been able to expand my knowledge and overcome my preconceptions.
The Guyanese don't have the population to invest in massive infrastructure projects. What they should be doing, I think, is buying up shares in energy companies, giving, partnering with some countries to trade portions of their oil resources for free college educations for their people and to increase the power of their Visas, investing in their fisheries and their agriculture and hydroponic technologies. The Guyanese would do well to prepare themselves for Africa's coming population of 4 billion, which will drive global food prices through the roof.
Attention already being placed on all of that. 🤞🥂
Yeah I’m not convinced that 4 billion Africans is going to end up being a sustainable thing no matter how much investment in food occurs.
@@gabesteinberg6244 Yeah, the problem with super population is way more than feeding. Just the fact that more males are born than females causes instability.
Almost half a million Guyanese live in the diaspora & many would gladly return on top of that being part of Caricom Guyana can push for major reforms that allow freedom of movement of members & then there would likely be mass movement from other Caribbean countries especially from Haiti & English speaking Caribbean countries along with some people of other Caribbean diaspora living in the US, UK, Canada, & Netherlands
@@DaviRenania
How so? Most Arab-majority countries have more males born than females yet they're stable.
Way to go Guyana! Hope you can become as wealthy as Qatar, without the very unethical policies.
They'll need to import hands for the projects this new wealth will make possible.
What unethical polices?
@@skp8748 idk, slavery ?
@@mrsupremegascon there is no slavery. And forced labor is banned too.
If you mean harsh treatment of workers, well this is free market, where every worker has the right to work hard
What's unethical?
@@mrsupremegascon what slavery? I hope you're not referring to the Kafaalah system which was instituted by the British during colonial rule in Qatar which only ended in the 1970s.
This system was the privatisation of visa issuance, employment contracts, housing and policing of the foreign workers. This system predated Qatar's independence and with a population of just 300k they haven't had the capacity to create the bureaucratic institutions necessary to nationalise these responsibilities.
Qatar will tender a construction/service contract which is won by European or US companies that provide the architectural design, engineering consideration, logistics and resources procurement consulting... They then need the labour to build but Qatar doesn't have people so they turn to established labour vendors
These labour vendors are PRIVATE employment companies that operate internationally that go to key markets like India, Pakistan ect who then have access to sizable skilled labour forces... Then the European or US company who won the bid for the project SUBCONTRACTS labour acquisition to this company.
Because Qatar doesn't have enough people to staff the governmental depts necessary to oversee these people they CONTINUE with the British instituted Kafaalah system which basically means these companies are responsible for the workers entirely.
Guess what though the European and American companies from 'liberal civilised societies' who compete for the bid could easily say to the labour vendors we mandate that you provide x, y and z to workers and we'll need to be able to monitor this otherwise you won't get the subcontract... But they don't because capitalism.
So saying Qatar which has now spent enormous amounts of money creating civil service institutions to oversee, govern and regulate migrant workers thereby taking back control from the private sector.
Qatar has 300k people that's man woman and child. There are over 1.4 million adult male foreign workers... The fact they've done this is remarkable
i will NEVER get tired of the 20's report intro
Guyana is at a crossroads. It can either go the path of the gulf states or venezuela and become an authoritarian petrostate. Or they can go the path of Norway and use their oil and gas wealth to improve the lives of their citizens. In order to do this they will need to resist the temptation to get favors and take the cash. They will need to: reform the government and strengthen democracy, modernize the Judiciary, invest heavily in education courting teachers from overseas and building a true world class university while offering full scholarships to their best and brightest to go overseas and get a quality education until the university opens, create a sovereign wealth fund through solid investments, spend billions to modernize their infrastructure, and most importantly of all make investment money widely available to entrepreneurs and develop a domestic IT sector and tech industry. If Guyana can follow this path and ride the last great oil wave into a brighter future they could see their future as the brightest of south America. Time will tell
Some good suggestions...
Thanks for the analysis!
I really hope this goes well for Guyana!
Quality content every since the inception of the channel ❤
The real challenge here is building state institutions that are functional enough and corruption-free enough to use this massive windfalls appropriately by investing it into long-term productive means (infrastructure, education, healthcare, etc.)
Thank you for your as usual very informative video
Thank you for covering my country.. I am happy you did, for I find your content on other topics not bias.. I hope you continue your coverage in the future on Guyana.. I love perspectives!!!
Wow, you are gopaul. I hope Guyana keeps investing in agriculture and scientific education of the highest standards.
Awesome video!
All the best to Guyana from India. 🇮🇳 🇬🇾
Diversify and Invest Heavily in Education, Infrastructure, Health and Technology.
Great vid! I didn’t know about this at all.
Great video as always
Brilliant video once again
Great report
I hope bordering suriname will profit from this as well as that country is in some dire finencial straights while the oil deposits also in it's waters.
They could but their population and politicians are backward. They oppose anything progressive like the bridge to link the two countries.
Please keep us updated on this. I truly hope this nation gets a triumph from this discpvery and shows not every nation gets cursed with black gold.
Good luck guyana
Great video.
Something that I think would interest your viewers is to look at the post-soviet countries successes as well as failures. Russias grips on these nations and the reaction of them wanting to join NATO for protection in 2004-current.
This was very informative.
another great video. very interesting stuff
With fertility rates being a hot topic and with governments trying to address it, which countries have actually made strides in raising fertility rates and how are they doing it? Alternatively, which countries are trying to address the problem and are failing at it?
Looking at Hungary, it is working there, but the problem is that adults are still leaving the country for places like Germany. So this could create financial problems related to keeping it going
@@dylangtech Maybe those adults would have some actual reason to stay if Orbán's Hungary didn't have the oh-so prestigious title of most corrupt country in the EU.
I’m very excited about the future of Guyana I especially wonder how they will utilize their geographic location in the future as a gateway to the southern hemisphere
Guyana had better look to someplace like Norway for proper wealth management.
I’m already hearing that Guyanese are having a wider rich vs poor divide and the amount of EXPATS coming in has inflated their currency making things harder to avoid
Simply put in kinda terrified they may become another Venezuela.
Those phenomena have nothing to do with what happened in Venezuela though.
Expats had nothing to do with what happened to Venezuela.
The home land grows
excellent video; I am going to learn more!
They should take notes from Norway and Venezuela on what they should do and not do
You really mean Holland. or Norway.
Amazing
Guyana's long-term prospects will be dismal if the government doesn't invest its oil wealth wisely.
good stuff.
I went there for vacation it's a wonderful country . I wish them the best that deserve every good thing that comes to them
Guyana and Suriname needs to work together in the Oil and Gas Sectors. Guyana also needs to get help to build strong Oil and Gas institutions from the Persian Gulf Nations. The Guyana leaders needs to take controlled of all the Oil and build and Oil refinery in Guyana.
No. They don't have the money to do that. And Suriname has backwards politicians.
Good luck to them.....
This same year guyana will be producing 200,000 more barrels in a day .a new oil ship will start production . So at least 540,000 barrels a day for 2023.
That'll be almost as much as Venezuela's daily production. Lol
@@ramr7051 venuezuela is getting so poor so fast that no one truly know it's stable gdp nominal .it was one of the wealthiest in southamerica . Guyana is the opposite of Venezuela we grew so fast that no one can predict our gdp . It's always higher than we expect .
@@Kevin-nh5je are you from Guyana 🇬🇾? & Indian Guyanese?
@@strugglinggamerzone3399 mix guyanese .
@@Kevin-nh5je cool ! I heard they discriminate against Indians is it true ? Also ethnic cleansing of Indians?
Shortly after the video on Indonesia, here is another one on a country that we seldom hear about. Again, we learn that we should pay more attention. Thank you GTBT!
Bro the GDP is growing and the people getting poorer u mean exon getting richer
From one of the poorest to one of the richest in South America and the Caribbean 🙏🇬🇾
From what I heard that Guyana 🇬🇾 was once a rich country before Jim Jones came there in 1978. I don't know how true that was but for now, God has the prayers of the Guyana 🇬🇾 people.
Super interesting
Money is not a evil thing. It is a tool. You can use it for the good.
Awesome
Love the videos. Could you please make a video about Iranian-Armenian relations or the Rwandese hybrid operations in the East of Kongo please.
Hey Guyana
Wish all the Success in the World,your story is inspiration to all 3rd world countries around the world.........
Love and Greetings from Tanzania 🙌🏾
Guyana grew 62,3% in 2022 👍🏻
This is the country where 2/3 of its territory are claimed by its neighbour, right?
Claiming since them hear oil
I wish them happy future and massive investment in infrastructure
I think example of Guyana is a good example of inspiration to change way of development into better side for many countries en good example for making better trying protection of environment and in the same time going to more prosperity of country and people.
I hope Guyana can become like us
Your channel is one of the few on my radar that actively informs me about developments in countries I don't usually think about. Thank you so much for helping me overcome my bias!
If it develops financial sector and attract foreign companies for tax avoidance can Guyana become uae of south america?
Please do a video on the Saudi Iran peace deal, chinas influence and Israels reaction
I swear I've seen so many of these videos of countries getting incredible growth and being proclaimed as the fastest growing (blank) that I honestly have fun hedging my bets against them, everytime I do I hope I'm wrong
In Sid Myers civilization's revolutions if you play on the Earth DLC map Guyana has the best starting point other than New York.
Really? How?
@@abiku2923 If u play as Spain and there is a whaling square adjacent.
Dutch disease is a bit more specific. Not a general, 'chaos and corruption' thing.
Those are also possible, but they are not covered under Dutch disease.
I hired some guyanans back in 2013 and found them to be smart, and capable, with great technical and customer skills. Like Ukrainians, but better English.
I mean, they are native to english lol
@@ethandouro4334 ya, alot of ppl don't know that
Would love to see a video about the South African failed state
I keep my fingers crossed that Guyana will manage to transition to a more diverse economy and not get trapped by the resource curse.
They better not and I hope they have learned we'll from 1978 with Jim Jones.
Please create an update. Venezuela wants to annex Guiana.
Maybe your TH-cam analyst was right! I'm only writing to support you, other people already formulated what I'd think about the situation :)
min 13:05 Venezuela, sad
If I were them I would follow the Norway model. Use the profits to build your economy and invest in a sovereign wealth fund that pays out to all your citizens. This way when the oil runs out it won't make one bit of difference.
They did that. Let’s hope it works.
I do really love the channel's aesthetic. It feels like you're listening to something out of the Cold War.
My grandmother had a friend from Guyana who once made a comment to me about what she called that country's "ethnic cleansing." I had no idea what Guyana's racial strife looked like, but her comment made me look into it.
The conflict between her people, the African Guyanese, and Indian Guyanese is much more intense than I realized before she said that!!
My aunts and uncles said the same thing to me too. The next generation needs to move past radical differences and bring the country forward. Looks like 30-50% of the population are young which is a great base for growing wealth especially now with the oil $ to start things off.
@@nycisaacsq That's what singapore went through but who knows what guyana will do to not go through racial tension.
Culture is more important resource than oil. If they luck it they could fail the opportunity of any size.
I feel like it is important to address some of the criticism surrounding the deal between Exxon and the guyanese government. To start, 75% of the oil revenue goes towards paying off Exxon's expenses. This is typical of these types of deals, however, this contract stipulates that this money will also be used to pay off future well sites which may not even end up producing any oil. Under normal circumstances, Exxon would use the earnings of the future wells to pay themselves back, once said wells start producing oil. The guyanese people are not getting a 50/50 split at the moment and will have to pay back oil sites that don't even exist yet, before this becomes the case. On top of that, the 2% royalties received by the guyanese people is way less than what is usually received (12%-25%). Lastly, Guyana is new to the oil game and is pumping out oil at an unexpectedly fast pace. While they are trying to pay off the project's costs as soon as possible, the high rate of extraction and lack of experience exacerbates the threat of an oil spill which would compromise the conditions of the counties environment and other economies such as fishing (if this does happen, studies have shown that the oil could make its way throughout the Caribbean). This deal is far from great and with pressures to transition to renewable energy, it is really hard to say that Guyana will profit from this oil. Many other ressources such as sugar, gold and diamond are also found in Guyana and so far the people haven't gotten to see much of that money either.
congratzee 👍
Hello algorithm god!
min 7:43 a sovereign wealth fund is great news, hopefully
With Venezuela being next door, and its economy crashing in recent memory, I would assume the Guyanan government is very careful with how they will be making use of the new cash source.
Build world class education, healthcare and infrastructures like Singapore. Raise the bar for rule of law, and then no one can stop you.
This growth comes with a big darkside that is if they don't invest in their own country's education, infrastructure and renewable energy quickly then they will fall or end up like Venezuela.
Within 19 hours!
Hope Guyana will succede
How much did the income of the bottom 80% of society go up
Hello I am Guyanese, and you have a few things wrong, first of all we were a middle income country for years, and we were not poor, why they said we were poor is because of what the avarge citizen was earning, it was low but people in Guyana had a better standard of living, than a lot of countries in south america, we only started to take out the oil money jan 2022, and the whole world expect every single Guyanese must be rich like the citizens of kuwait or Norway in two years, did Norway do it? so why you all expect it. the 18 Million was paid to the last Gov not this one and they were currupt like the EU , Now every foreigner come to Guyana and cries corruption yet they can not find any one in the Government who is corrupt, next thing is the Dutch didease we will not suffer from that as we dont depend on oil alone,we have a lot of other projects going, when you see so called Guyanese saying they are starving in a land of abundant food its foreigners pretending to be Guyanese and the opposation party members trying to bring discord. we will never become like Venezuela, or the Africian countries you mentioned, and because we are going forward we have a lot of foreign enemies and domestic enemies. amazon warrior
My advice for Guyana , invest in sustainable energy like norway did en does !!
Educate and improve your country's quality,people and infrastructure cut corruption .
min 7:25 weak institutions are a bad sign, pity
Guyana is safe when it listens and learns from India
I don’t think so .
Will they become Norway or Conga.
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤father in heaven continued to give strength to my brothers and sister's of guyana bless
My question is, if there are this resources in the area then surely french Guyana and Suriname must have deposists also. Is there development in those areas also?
Yes, suriname has also found oil and will follow in Guyana's foot steps. French Guiana had some early promising success but things didn't worked out. I believe that they should keep trying. But right now nothing is going on there. Oil companies have put French Guiana on pause. I don't know why.
@@ianbynoe6515 thanx, that is interesting. If there ae strategic resourcesnone would think that france would hop on it as it would make the eu more independant.
I think the French Govt restricted drilling. They had one discovery a while back but I think the French masters are big on not expanding fossil fuel.
@@jayyy3456 , yeah, that's true.
@@jayyy3456 well I believe they funs french guyana through space industry amd I know the population is far lower so maybe they see it as non esential in france.
Half of Guyana's population are Indian origin
Indentured labourers class 10th history 😂
Hopefully Guyana doesn't get the resource curse.
wrong, the wealthieast country in south america is Falklands, the whealthieast region is Brasilia federal district, the whealthiest municipality is Presidente Kennedy in Espirito Santo State Brazil, and whealthiest city is Balneário Camboriú in Santa Catarina state Brazil. Love Guyana glad they are becoming rich.