Is This the Norway of South America?

Guyana’s economy is the fastest growing in the world, driven by a booming oil sector. The South American nation’s reserves are so vast that Venezuela is escalating claims to its neighbor’s oil-rich Essequibo region. Guyana’s fossil fuel supply poses other challenges, too. While natural resource windfalls can create phenomenal wealth, they can lead to hyperinflation, social and political upheaval and severe income inequality.

Chapters:
00:00 introduction
01:34 Guyana’s economic boom
03:25 The paradox of plenty
4:25 Risk of inequality
5:38 Escaping the resource curse

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[ADHD]

Hope Guyana becomes wealthy and prosperous

[arthurtapper]

Funniest moment
Kiosk owner: "I got one prerogative. I want my oil money"
Reporter: Vigorously takes notes as if it were some profound life changing statement.

[ThomasWright-jweo]

"I want the oil money" and that's how you get

[paulmiller]

Hopefully, they will follow Norway's approach.

[ArtoriaPendragon-tm]

Hyperinflation from resources are a sign of corruption and reliance on one industry.

[adam]

From Arab oil countries and Norway we can learn how to manage it correctly for the people. Best of luck Guyana

[jongalloway]

Guyana's problem will be inflation, it imports too much, produces too little and too under develop, it will have to tackle the resource curse as investments will take decades to enter the country and transform it; it cannot take the Norway approach. It has to focus on staggering its economy in a delicate way to come out of this better.

[miguelpena]

Guyana is in South America, but is not part of Latin America.

[Alexmndt]

Guyana is NOT Latin America. It is however, surrounded by Latin America.

[wilstewart]

Respect to Guyana. Your friends here in Britain stand with you against Venezuela and congratulate you on your new riches to come

[jablue]

This is the first time in a minute that my home has been the subject of a video... and of course it's about the oil

[blackmaster]

THERE IS NO OIL CURSE, ONLY BAD LEADERSHIP.

[OmerE.C]

May Allah shower them with wealth, and most importantly, may Allah guide them to use the resources wisely, I love the Guyanese people 🇬🇾

[Johannesai]

If big money enters the government, the Guyanese government will have an opportunity to implement a Singaporean 🇸🇬 housing style for Guyanese citizens. Singaporean flats don’t belong to the people; they belong to the government, but the government lends each flat for a 99-year period. Now that housing prices are not that high in Guyana, this is the time to carry out Singaporean-style housing. Otherwise, housing and renting prices will skyrocket in Guyana just like everywhere else.

[originaltanman]

Is not a tiny nation... its the size of the UK

[ianshaver]

They can avoid the oil curse, but they probably won’t.

[Westindiangyal]

Guyana better start sticking together. Outside forces are yrying to divide and conquer. We are one Guyana, one people.

[uggali]

Invite the Norwegians in for some strategic planning and asset management advice <3

[LetsGo-wlzo]

Yeah, I should ask Norway. How to invest the Oil money.

[meawwow]

Why isn't Reliance petroleum sending executives in Guyana