‘Technically competent’ IMF backs Guyana’s development plan – Jagdeo

The International Monetary Fund (IMF), in a recent statement, praised the management of Guyana’s economy and Vice President Dr. Bharrat Jagdeo welcomed this, stating that the IMF is a “technically competent” body.

The Vice President spoke about the IMF statement during his weekly press conference on Thursday at the People’s Progressive Party Civic (PPP/C) Headquarters, Freedom House.

He said the government is intent on sharing more of what the IMF said because of how supportive the IMF has been.

“Where it concerns framework for managing the economy, they’ve made it clear that the framework we are pursuing is a sustainable one,” Jagdeo boasted, adding that the body supported several other government policies.

The IMF reported on developments in Guyana in its recently- released its Staff Concluding Statement for the 2025 Article IV Mission. The IMF commended Guyanese authorities for their commitment to macroeconomic stability, fiscal sustainability, and inclusive growth. The report noted that while signs of overheating are not yet apparent, it remains critical for the government to closely monitor macroeconomic trends and continue implementing policies to avoid any imbalances.

The IMF also recognised the positive impact of social transfer policies, which have increased disposable income and reduced poverty and recommended further targeted transfers to support Guyana’s sustainable development goals.

Jagdeo described the IMF as a globally-recognised, technically competent body and noted that the IMF sent a team of representatives, including several economists, to Guyana and that team conducted independent engagements and analyses. So, he argued that the IMF’s statement is more authoritative than any remarks made by politically-aligned economists or analysts locally.

Jagdeo also posited that the body was fair in its assessment and understands well the government’s plan for Guyana’s development.