Macroeconomic Forecast Guyana

Guyana's foreign currency reserves came in at US$792.5mn in August 2011, an increase of 23.0% y-o-y and up from US$779.3mn in July. Since the most recent data poses significant upside risk to our end-2011 foreign currency reserves forecast of US$680mn we have decided to revise up our forecast for end-2011 to US$800mn, as we expect this trend to continue in the coming months and by year-end, given Guyana's balance of payment dynamics.

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