Macroeconomic Forecast Guyana

Guyana's international reserves came in at US$746.6mn in October 2011, an increase of 12.1% y-o-y, though reserves declined modestly from US$756.1mn in September. Still, this remains in line with our 2011 estimate for foreign reserves to come in at US$800mn, rising to US$850mn in 2012 as we believe the country's balance of payments dynamics will ensure that the capital and financial account surplus adequately covers the country's structural current account, which we forecast to come in at 14.2% of GDP in 2012.

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