(Kaieteur News) – Bloomberg, an American media powerhouse renowned for business and markets news, data and analysis to name a few has warned that the oil curse is hanging over the world’s fastest growing economy with Guyana falling short in several key parameters laid out in the Natural Resource Charter.

In a July 29 report, Bloomberg’s Juan Spinetto details his recent visit to Georgetown where his attendance of the nation’s Independence Flag Raising Ceremony was flatly described as a “fiasco…more than an embarrassment.”

Shifting attention to the nation’s resource management, Bloomberg assessed Guyana’s trajectory against dozens of benchmarks laid out in the Natural Resource Charter, a set of principles developed in 2010 by economists and policy experts to help resource-rich countries turn commodity booms into lasting prosperity.