IMF Urges Guyana to Tackle Labour Shortages, Strengthen Food Security

• In its Article IV report released on October 8, the IMF urged Guyana to diversify beyond oil by strengthening human capital, expanding employment, addressing labour shortages and improving food security.
• Real GDP grew 19.3% in 2025 and is projected to expand a further 22.3% in 2026, while non-oil GDP is expected to grow 10.2% this year before averaging about 7% over the medium term.
• Inflation, which averaged 3.3% in 2025, is projected to rise to 4.1% in 2026 on higher global energy and food prices.
• Labour shortages were flagged as a key constraint, with oil-driven investment intensifying competition for workers, though the IMF did not quantify the shortfall or name the most affected occupations.
• The outlook remains highly favourable, with rising oil production expected to strengthen Guyana’s fiscal and external positions.
• Key risks include oil price volatility, overheating pressures and climate shocks, with the IMF calling for investment in sea defences, drainage and climate-resilient agriculture.

(Source: IMF)