Guyana discuss key economic, energy projects with US

During a recent four-day visit to the United States (US), Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, engaged in high-level discussions aimed at deepening economic and bilateral relations between Guyana and the US. Accompanied by Guyana’s Ambassador to the US, Samuel Hinds, Dr. Singh met with several key officials to advance cooperation in areas including trade, development, and security.
In Washington, Dr. Singh first met with Deputy Assistant Secretary Michael Kaplan of the US Department of Treasury. The discussion focused on Guyana’s recent economic developments and potential collaborations, with Dr. Singh reaffirming the Guyanese Government’s commitment to maintaining a favorable macroeconomic environment for US businesses.
He also held talks with Deputy Administrator for Policy and Programming at USAID, Isobel Coleman. They reviewed Guyana’s impressive economic growth figures, including a 49.7 per cent overall growth and a 12.6 per cent increase in non-oil sectors for the first half of 2024. The two sides discussed ways to leverage this growth for the benefit of all Guyanese.

At the State Department, Dr. Singh met with Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez, and Assistant Secretary Geoffrey R. Pyatt. The conversation centered on enhancing cooperation in energy security, human capital development, and pandemic preparedness. Dr. Singh expressed gratitude for US support in Guyana’s democratic restoration and its stance on the Guyana/Venezuela border issue.
Further discussions with Assistant US Trade Representative Daniel Watson focused on bolstering trade and investment ties, with Dr. Singh highlighting the US as a major trading partner and underscoring the government’s commitment to a robust business environment.

Singh’s visit also included a meeting with EXIM Bank Senior Advisor Larry T. Decker, where they discussed the bank’s support for Guyana’s GtE Project. This initiative aims to reduce electricity costs and lessen the nation’s dependence on fossil fuels.
The finance minister also met with Executive President of the Corporacion Andina de Fomento (CAF) Sergio Díaz-Granados. The discussion explored potential partnerships with CAF to finance Guyana’s ongoing infrastructure development and economic diversification efforts.
The minister explained that the government is open to partnership with CAF and would like to see the bank play a role in Guyana’s exciting transformation currently underway. The two sides also explored ways in which the financial institution can partner with the Government to ensure that the current aggressive infrastructure build-out is financed optimally, and that critical investments are made toward further boosting the economy and diversifying a number of critical sectors in the country.