Campbell urges investment of oil wealth to secure Guyana’s future

(Kaieteur News) – With Guyana’s oil revenues growing steadily in the Natural Resource Fund (NRF), the country must begin exploring sound investment options to generate more profits and create lasting wealth for generations to come instead of spending majority of earnings on infrastructure and relying on mere banking interest on the billions now flowing into the account.

This is according to the Lead Member of Parliament (MP) for the A Partnership for National Unity (APNU), Dr, Terrence Campbell.

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In a letter to the editor on Monday, Dr. Campbell, a former member of the Investment Committee of the NRF explained the importance of moving beyond the use of oil money for just budgetary support. He said, “The discovery and production of vast offshore oil reserves have created opportunities that previous generations could scarcely have imagined. Yet the true measure of our success will not be the volume of oil produced or the billions of US dollars deposited into the Natural Resource Fund or our annual GDP growth rate. It will be whether we transform this temporary resource wealth into lasting national prosperity.”