Following last week’s discussion of Sovereign Wealth Funds (SWF) as a mechanism for avoiding and/or controlling the triad of crises typically associated with booms in oil and gas export revenues, I describe below the Government of Guyana’s declared intention with regards to its own SWF.
Recently, the Ministry of Natural Resources has declared Guyana’s SWF is intended to: 1) “protect the economy from the volatile nature of natural resource revenue”; 2) “grow and modernize the sustainable non-extractive sector of the economy; and 3) “enhance the capacity of our people”.