A former Governor of the Central Bank of Barbados, Dr. DeLisle Worrell has tagged Guyana as one of only a handful of countries in the Caribbean benefitting from a level of foreign investment that augers well for the overall economic growth of the region, going forward.
An article published in the Monday May 18 issue of the Jamaica Observer and written by Worrell asserts that the level of foreign investment reported for the Caribbean in the most recent update from the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) does not augur well for the region’s future economic growth.
Worrell says that that in Guyana’s instance the rapid expansion of the country’s oil and gas industry has been responsible for the ratio of foreign investment to Gross Domestic Product (GDP) reaching as high as 34%, asserting that Antigua and Barbuda and Grenada, respectively, come closest to Guyana with 14% and 3%, respectively.