How Guyana Plans to get Rich in just 5 years

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Uncover the surprising story of Guyana's incredible economic transformation. Once considered one of South America's poorest countries, Guyana is now on track to become its richest. But how is this possible? Despite a history of socialism, colonial exploitation, and a harsh climate and geography, Guyana has become the fastest growing economy in the world. The answer is not straightforward and raises questions about the country's long-term sustainability. Join us as we delve into the complex factors driving Guyana's economic success and explore whether the country and its leaders can beat the odds and become a rare example of a thriving economy in South America.

– Contents of this video --------------------------------
00:00 - Guyana’s Economy
00:56 - The Fastest Growing Economy in the World
03:22 - The Sugar Economy
05:42 - Flawed Independence
07:31 - Socialist Cooperative Republic
11:44 - Let there be Oil
13:44 - The Oil Curse
15:33 - How Guyana Plans to Get Insanely Rich in Just 5 years
18:21 - Will Guyana Succeed?

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– Sources used ---------------------------------------------

#Guyana #GuyanaEconomy #GuyanaHistory #Economics #CasualScholar #History

[rajramma]

As a Guyanese, Guyana needs to reduce corruption and strengthen it's institutions in order for us to prosper. Corruption needs to be eliminated, our police force, army, public services etc. are all weak and recieve extremely low salaries although we have been pumping oil for years. Imagine a police or teacher earning less than $500usd per month with rising prices..

[OmerE.C]

I hope they become like Norway, emirates or Qatar, rather than Angola or Nigeria. All are oil rich countries, with different resources managements strategies

[gregjackson]

I lived in Guyana for a year when I was 10 years old in 1995. Guyana was so poor when I lived there and it was a perfect example of what happens when your infrastructure collapses and corruption takes over. I would love to see the region at least catch up with it’s neighbors. I really hope this works out, but with the levels of corruption in the government who knows what will happen.

[dutchman]

When its neighbor, Suriname, got independent in 1975, it was the richest country in South America.
Hydro power for the aluminium industry, good roads, education and health care. Mismanagement and greed from corrupt government and military has brought the country down. Half its population now lives in the Netherlands and the country is poor. People from Guyana used to work in Suriname, that's going to change the other way around. As long as it lasts.

[t.williams]

Guyanese here🖐. It's good to see a channel portraying Guyana in a positive light but In the end it all comes down to good management of resources. I've seen the rise and fall of great nations due to mismanagement of resourses. So It will take a collective effort by both the government and people to steer Guyana in the right direction.

[cherrypoptart]

This isnt a joke, As a Trinidadian over the past 2 decades we're accustom to Guyanese migrant coming to Trinidad and Tobago to seek a better life because of how tough they had it there. In the past 4-5 years we've seen any influx in Guyanese wanting to return to their country and Trinidadians ironically, wanting to migrate there because of the improvement over there

[finalcut]

I hope they do man. Being Brazilian i will always support other South American countries...

[rogerrampersad]

As a Trinidadian who has seen how Guyanese where treated when they came to Trinidad for a better life decades ago, i truly wish the best for Guyanese people and hopefully the Guyanese Government don't do what there counter parts did here in Trinidad.

[ianlinares]

their main challenge is the low population size...they will need to somehow stimulate imigration in order to have the worforce needed for all the infrastructure they will need to build

[luciano]

As a Venezuelan I truly hope Guyana will improve and develop in the future, I really wish they will learn from us that things will not get better for the average person unless they secure an efficient and honest government that works for the nation’s best interests, without any corruption to harm the progress. Sending my best wishes to the Guyanese people👍

[marineghost]

As a Western, I wish my fellow Caribbean neighbour best of luck!!! But don’t be the next Venezuela or Trinidad who squandered the oil dollars!!! Corruption is real and every politician will want their piece of the pie!!!

[ThePeriphery]

Great video. Even-handed, clear points, and well-edited. Thank you!

[Dark]

As someone born in Guyana and who's visited a few times since leaving. I will say it does look busier and I even know some people aiming to be entrepreneurs there, still I'll believe it when I see it. I don't doubt it can happen I just don't have high hopes that it will

[That.little.chef.]

Wow I never expected Guyana to be featured on this channel. This is a great video. My parents are from Guyana and I visit often. Looking forward to seeing Guyana thrive. 🇬🇾

[brajmahipal]

The people of guyana must put their colonial mentality behind them if they want guyana to be the richest country in the world... They must really believe in being ONE PEOPLE, ONE NATION, ONE DESTINY.

[pedro__pinto]

One thing i like about this infomation channel, is that he gives the watcher the means to confirm what he is saying, with the links to the sources of the information. After that, is up to the watcher to confirm what was said. Well done!

[DruggedParrot]

This is exactly the same case for Suriname. They recently discovered huge oil fields just off the coast. Let's hope these two countries are wise enough not to be like Venezuela

[khalil]

My grandfather was born there. Hopefully he gets to see the country succeed

[Darrytheprince]

I'm so happy for my West Indian brothers 💪much love 🇬🇩

[daveriley]

This is the third Casual Scholar video that I have watched. In my view, there is nothing casual about his scholarly analysis of each subject. 'Why is Latin America still Poorer . . .', 'California's Economic . . .', and this one on Guyana are sterling examples of good research, unbiased analysis and logical presentation that should serve as an example for any aspiring presenter on any subject.