Review of Financial Development and Inclusion for Guyana: Assessment and Options for Reform

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Jun 2020
Guyana's economy is on the verge of a historic transformation owing to recent oil discoveries. In this context, maximizing the benefits of faster growth and increased revenues will depend crucially on the financial sector. This paper presents an assessment of financial development, access, and inclusion for Guyana. Policy recommendations that flow from this analysis include the importance of durably addressing macroeconomic imbalances, reinforcing the regulatory and institutional frameworks, supporting the availability of information regarding credit and related counter party risks, and developing a coordinated approach to institutional and policy reform aimed at promoting financial inclusion (e.g., via development of a national financial inclusion strategy).