Guyana - Balance of payments

Guyana generally runs a deficit on current accounts, which became increasingly severe in the 1980s. Since 1989, the government has sought a policy of a free market in foreign currency and the removal of import prohibitions. Still, over half of the annual budget went to debt servicing during the 1990s and early 2000s. In 1996, Guyana's debt with Paris Club creditors was reduced by 67%; bringing total external debt to US $1.5 billion, or, slightly less than 100% of GDP. Guyana qualified for $590 million in debt service relief under the IMF/World Bank Heavily Indebted Poor Countries (HIPC) Initiative in 2000. As a result of its qualification for HIPC assistance, Guyana became eligible for a reduction of its multilateral debt for the first time. In 2002, Guyana negotiated a three-year $73 million loan with the IMF.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Guyana's exports was $505 million while imports totaled $585 million resulting in a trade deficit of $80 million.

The International Monetary Fund (IMF) reports that in 1995 Guyana had exports of goods totaling $496 million and imports totaling $537 million. The services credit totaled $134 million and debit $172 million. The following table summarizes Guyana's balance of payments as reported by the IMF for 1995 in millions of US dollars.