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Economy / Guyana

Rumble in The Caribbean

November 2006 | Ratings Update

The government has taken the longstanding border dispute with Suriname to the UN International Tribunal on the Law of the Sea (ITLOS), which is likely to start hearing the case in December. Both countries claim possession of the 'New River Triangle' in the Corentyne River, which not only provides vital fishing grounds but is also believed to host extensive crude oil deposits. While a final ruling by the ITLOS is expected to take place at the end of 2007, it is unlikely to improve bilateral relations between the two countries in the short term. International arbitration nevertheless reduces the risk of a possible military confrontation over the border dispute.

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