Guyana Map

• The main economic activities in Guyana are agriculture (production of rice and Demerara sugar), bauxite mining, gold mining, timber, shrimp fishing and minerals. Chronic problems include a shortage of skilled labour and a deficient infrastructure. In 2008, the economy witnessed a 3% increase in growth amid the global economic crisis and is expected to grow further in 2009.

• Until recently, the government was juggling a sizable external debt against the urgent need for expanded public investment. Low prices for key mining and agricultural commodities combined with troubles in the bauxite and sugar industries had threatened the government's tenuous fiscal position and dimmed prospects for the future. However, the Guyanese economy has rebounded slightly and exhibited moderate economic growth since 1999, thanks to an expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations.

• The sugar industry, which accounts for 28% of all export earnings, is largely run by the company Guysuco, which employs more people than any other industry. Many industries have a large foreign investment. For example, the mineral industry is heavily invested in by the American company Reynolds Metals and the British-Australian Rio Tinto's Rio Tinto Alcan subsidiary; the Korean/Malaysian Barama Company has a large stake in the logging industry.

• The production of balatá (natural latex) was once big business in Guyana. Most of the balata bleeding in Guyana took place in the foothills of the Kanuku Mountains in the Rupununi. Early exploitation also took place in the North West District, but most of the trees in the area were destroyed by illicit bleeding methods that involved cutting down the trees rather than making incisions in them. Uses of balatá included the making of cricket balls, the temporary filling of troublesome tooth cavities, and the crafting of figurines and other decorative items (particularly by the Macushi people of the Kanuku mountains).

• Major private sector organizations include the Private Sector Commission (PSC) and the Georgetown Chamber of Commerce & Industry (GCCI);

• The government initiated a major overhaul of the tax code in early 2007. The Value Added Tax (VAT) was brought into effect, replacing six different taxes. Prior to the implementation of the VAT, it had been relatively easy to evade sales tax, and many businesses were in violation of tax code. Many businesses were very opposed to VAT introduction because of the extra paperwork required; however, the Government has remained firm on the VAT. By replacing several taxes with one flat tax rate, it will also be easier for government auditors to spot embezzlement. While the adjustment to VAT has been difficult, it may improve day-to-day life because of the significant additional funds the government will have available for public spending.

• President Bharrat Jagdeo has made debt relief a foremost priority of his administration. He has been quite successful, getting US$800 million of debt written off by the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank (IDB), in addition to millions more from other industrial nations. Mr. Jagdeo was lauded by IDB President Moreno for his strong leadership and negotiating skills in pursuing debt relief for Guyana and several other regional countries.

• The electricity sector in Guyana is dominated by Guyana Power and Light (GPL), the state-owned vertically integrated utility. Although the country has a large potential for hydroelectric and bagasse-fueled power generation, most of its 226 MW of installed capacity correspond to inefficient thermoelectric diesel-engine driven generators.

• Several initiatives are in place to improve energy access in the hinterland. Please visit the article Hinterland energy in Guyana

• Guyana's educational system is considered to be among the best in the Caribbean, but it significantly deteriorated in the 1980s because of the emigration of highly educated citizens and the lack of appropriate funding. Although the education system has recovered somewhat in the 1990s, it still does not produce the quality of educated students necessary for Guyana to modernise its workforce. The country lacks a critical mass of expertise in many of the disciplines and activities on which it depends.

• The educational system does not sufficiently focus on the training of Guyanese in science and technology, technical and vocational subjects, business management, nor computer sciences. The Guyanese education system is modeled after the former British education system. Students are expected to write NGSA for entrance into High School in grade 7. They write CXC at the end of high school. Recently they have introduced the CAPE exams which all other Caribbean countries have introduced. The A-level system left over from the British era has all but disappeared and is offered only in a few schools.

• Further adding to the problems of the educational system, many of the better-educated professional teachers have emigrated to other countries over the past two decades, mainly because of low pay, lack of opportunities and crime. As a result, there is a lack of trained teachers at every level of Guyana's educational system. There are however several very good Private schools that have sprung up over the last fifteen years. Those schools offer a varied and balanced curriculum. However, the top government schools have nonetheless continued their dominance in academic performance outshining these private schools over the years.

• Guyana was in border disputes with both Suriname, which claimed the land east of the Corentyne River in southeastern Guyana, and Venezuela which claims the land west of the Essequibo River as part of Guayana Essequiba. The maritime component of the territorial dispute with Suriname was arbitrated by the United Nations Convention on Law of the Sea, and a ruling was announced on September 21, 2007. The ruling concerning the Caribbean Sea north of both nations found both parties violated treaty obligations and declined to order any compensation to either party.

• When the British surveyed British Guiana in 1840, they included the entire Cuyuni River basin within the colony. Venezuela did not agree with this as it claimed all lands west of the Essequibo River. In 1898, at Venezuela's request, an international arbitration tribunal was convened, and in 1899 they issued an award giving about 94% of the disputed territory to British Guiana.

• Venezuela and Great Britain accepted the award by treaty in 1905, but Venezuela raised the issue again at the time of Guyana's independence and continues to claim Guayana Esequiba. Venezuela calls this region "Zona en Reclamación" (Reclamation Zone), and Venezuelan maps of the national territory routinely include it, drawing it in with dashed lines.

• Specific small disputed areas involving Guyana are Ankoko Island with Venezuela; Corentyne River with Suriname; and New River Triangle with Suriname.

• There are a total of 116 miles (187 km) of railway, all dedicated to ore transport. There are 4,952 miles (7,970 km) of highway, of which 367 miles (590 km) are paved. Navigable waterways extend to 669 miles (1,077 km), including the Berbice, Demerara, and Essequibo rivers. There are ports at Georgetown, Port Kaituma, and New Amsterdam. There is 1 international airport (Cheddi Jagan International Airport, Timehri); 1 regional airport (Ogle Airport); and about 90 airstrips, 9 of which have paved runways. Guyana and Suriname are the only two countries in South America which drive on the left.