President points critics to IMF report

President Dr Irfaan Ali has taken a dig at critics, some of whom have cast doubts about the government’s efforts to diversify the economy, pointing out that the International Monetary Fund (IMF) has commended Guyana’s efforts in this regard.
Speaking at the commissioning of the Wales Water Treatment Plant on Sunday, the President said the country is projected to grow by 10.25 per cent in 2025, but the best part is that non-oil Gross Domestic Product growth is projected at 13 per cent.
This, he explained, is a result of the government’s efforts to diversify the economy by investing in areas such as agriculture and construction.
The Head of State further noted that the IMF’s Article IV report is an independent one, and its findings reflect the government’s progressive policies, and gains.
He then noted that the report not only highlighted the direction in which Guyana is moving but also tells the story of the country’s economic transformation.
Stressing that this transformation brings with it “social transformation, financial transformation, human transformation, and societal transformation,” Ali said the IMF was keen to commend Guyana’s diversification drive.
The report also mentioned that Guyana will continue to be one of the fastest-growing economies in the world and highlighted the government’s efforts to end poverty.
“Social transfer policies implemented in recent years have increased disposable income and reduced the poverty rate. Going forward, additional targeted transfers, integrated into a medium-term fiscal framework, could further support inclusive growth and help Guyana advance faster toward its sustainable development goal (SDG) of no poverty.”

For the full IMF report on Guyana click here:
https://www.imf.org/en/News/Articles/2025/03/07/cs-030725-guyana-staff-
concluding-statement-of-2025-aiv-mission