President Ali brushes off Bloomberg report on oil curse in Guyana

(Kaieteur News) – A Bloomberg article recently concluded that the world’s fastest growing economy may already have the oil curse hanging over its head, pointing to profound vulnerabilities such as weak state capacity, fragile institutions, labour shortages and geopolitical uncertainty to name a few, but President Irfaan Ali has brushed off the analysis as a mere “perception” arguing that one should instead focus on the report by the International Monetary Fund (IMF) which he believes gives the country a clean bill of health.

During his most recent engagement with the press at his Georgetown office, the Head-of-State was invited by Kaieteur News to share his thoughts on the damning article produced by the American media powerhouse, renowned for business and markets news, data, analysis and more.

According to the July 29 report, 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.