Guyana 2018
The population of Guyana in 2018 was estimated to be around 786,000 people. The majority of the population is comprised of people of various ethnicities including Indo-Guyanese, Afro-Guyanese, and Native Amerindians. The economy is largely reliant on exports, manufacturing, and services such as agriculture and mining. Foreign relations remain strong with Guyana’s neighbors in South America as well as other countries in Europe and beyond. According to extrareference, Guyana has been a presidential republic since 1970. In 2018, President David Granger was re-elected for a second consecutive term after winning 54% of the popular vote in presidential elections held that year.
Yearbook 2018
Guyana. The Caribbean Regional Court announced on June 26 that former President Bharrat Jagdeo (1999–2011) cannot be re-elected president. The matter was submitted to the court after a decision in the Guyanese parliament was notified by a member as unconstitutional. The court decision meant that Frank Anthony of the Jagdeos People’s Progress Party (PPP) has the greatest chance of becoming the party’s presidential candidate ahead of the upcoming 2020 election.
- According to Abbreviationfinder: GUY is an three letter acronym for Guyana.
According to Countryaah.com, Georgetown is the capital city of Guyana, a country located in South America. Guyana’s position as a new regional oil nation strengthened even more during the year. At the end of August, the US oil company ExxonMobil announced that it had made its ninth oil discovery in Guyana, the Hammerhead-1 source in the so-called Stabroek block with the equivalent of 60 million barrels of oil. In total, ExxonMobil’s exploitable oil resources off the coast of Guyana were estimated to amount to 4 billion barrels. On September 19, a letter of intent was signed on cooperation with Trinidad and Tobago, which has advanced oil refineries.
ExxonMobil’s various agreements with the Government of Guyana, considered by many to be both controversial and excessively favorable, on oil recovery had a foreign policy aspect. Natural Resources Minister Raphael Trotman made clear to a parliamentary committee in May that the agreements are meant as a signal to neighboring Venezuela that Guyana intends to retain control over the territorial waters that the two countries have been claiming for many decades. In addition, the government counted on additional support from the US government, which already has a strained relationship with President Nicolás Maduro in Venezuela, by granting concessions to such a US oil giant as ExxonMobil.
In recent years, the new oil deposits led the International Monetary Fund (IMF) to paint a positive picture of Guyana’s economy and near future in a June report. An increased growth rate of up to 4.5% in 2019 was predicted.
