Managing Resources Post-Discovery
Significant oilfields have recently been discovered in Guyana, and their development would likely result in government revenues that are large compared with public spending, other domestic revenues and the economy.
Large petroleum revenues, if wisely managed, can contribute to sustainable economic development. However, if poorly managed, they can retard economic development and create a "resource curse".
More specifically, they can lead to a loss of economic competiveness, volatile and inefficient public spending, and unsustainable consumption.
This workshop examines how petroleum development might influence Guyana’s development trajectory as well as the various mechanisms for saving petroleum revenues and rules for spending them.