Guyana - Development Policy Review : The Challenges of Governance and Growth
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The objective of this Development Policy
Review, is to provide an up-to-date, integrated assessment
of Guyana's development policy agenda, with the main
focus on governance, growth, and poverty alleviation. The
report consists of three parts: assessment of development
outcomes, discussion of the development policy agenda, and,
assessment of the medium-term outlook. It discusses some of
the key political economy issues, critical to this review -
ethnic and political tensions, as well as the surge in crime
and violence. The report draws on the extensive wealth of
existing analysis, within, and outside the Bank, and,
highlights critical areas where further research is needed.
Among the key structural measures adopted recently, are the
amendment of the tax law, and of the procurement law, and
the start of implementation of the sugar restructuring
program. These achievements come on top of progress made in
other reform areas, since the adoption of the Poverty
Reduction Strategy Paper (PRSP) in 2001. The pressing issue
is the implementation of the remaining reform agenda. The
PRSP needs to be updated, as the economic situation has
since deteriorated, with economic growth rate, and
government revenue collection much lower than anticipated.
Radical improvement in the business climate, namely through
macroeconomic stability, better governance, and improved
social capital, and physical infrastructure; diversification
of the economic base into high-value, competitive
activities; and, the restructuring of the traditional
sectors - mining and sugar - are necessary conditions for a
better economic outlook. Specifically, attaining fiscal and
debt sustainability, revitalizing agriculture, restructuring
the mining sector, promoting an investment climate,
improving public sector management, and investing in human
development, should stand at the forefront of the
development agenda.
Palabras clave
ACCOUNTABILITY, AID EFFECTIVENESS, AUTHORITY, BUSINESS CLIMATE, CIVIL SOCIETY, CONSTITUENCY, CONSTITUTION, CORRUPTION, CRIME, CURRENCY UNIT, DEBT RELIEF, DECISION-MAKING, DEMOCRATIC SYSTEM, DEVELOPMENT POLICY, DEVELOPMENT STRATEGY, DONOR COMMUNITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC MANAGEMENT, ECONOMIC PERFORMANCE, ECONOMIC SITUATION, EMIGRATION, EMPIRICAL RESEARCH, EMPLOYMENT, ENVIRONMENTAL DEGRADATION, ENVIRONMENTAL ISSUES, EXCHANGE RATES, EXPENDITURE, EXPENDITURE MANAGEMENT, EXPENDITURES, EXPLOITATION, EXTERNAL DEBT, EXTERNAL SHOCKS, FIELD WORK, FINANCIAL MANAGEMENT, FISCAL, FISCAL INCENTIVES, FISCAL POLICY, FISCAL SUSTAINABILITY, FOREIGN DEBT, FORESTRY, GOOD GOVERNANCE, GOVERNANCE REFORM, GOVERNMENT MINISTRIES, GOVERNMENT OFFICIALS, GOVERNMENT OWNERSHIP, GOVERNMENT REVENUE, GROWTH RATE, HEADS OF STATE, HEALTH INDICATORS, HOUSING, HUMAN DEVELOPMENT, IMPORTS, IMPROVING GOVERNANCE, INCOME, INSTITUTIONAL CAPACITY, INSTITUTIONAL REFORM, INTEGRATED ASSESSMENT, INTEREST RATES, INTERNATIONAL DEVELOPMENT, INVESTMENT CLIMATE, JUDICIAL DECISIONS, JUDICIAL REFORM, LAWS, LEVELS OF GOVERNMENT, LIVING STANDARDS, LOCAL GOVERNMENT, MACROECONOMIC STABILITY, MANAGERS, MARKET ECONOMY, MEDIA, MIGRATION, MINES, MINISTERS, MINISTRY OF FINANCE, MPS, NATIONAL ACCOUNTS, NATIONAL DEVELOPMENT, NATIONS, NATURAL RESOURCES, PARLIAMENT, PARTY AFFILIATION, POLICY ACTIONS, POLICY ENVIRONMENT, POLICY REVIEW, POLITICAL ECONOMY, POLITICAL PARTIES, POLITICAL POWER, POLITICAL SYSTEM, POVERTY ALLEVIATION, POVERTY HEADCOUNT, POVERTY LINE, POVERTY REDUCTION, PRESENT VALUE, PRESIDENCY, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRODUCERS, PRODUCTIVITY, PUBLIC FUNDS, PUBLIC INSTITUTIONS, PUBLIC PROCUREMENT, PUBLIC SECTOR, PUBLIC SECTOR MANAGEMENT, PUBLIC SECTOR PERFORMANCE, PUBLIC SERVICE, PUBLIC SERVICES, PUBLIC SPENDING, RATIONALIZATION, REDUCING POVERTY, REGULATORY QUALITY, REHABILITATION, REPRESENTATIVES, RESEARCH INSTITUTIONS, RESOURCES MANAGEMENT, RULE OF LAW, RURAL COMMUNITIES, SAFETY, SERVICE DELIVERY, SERVICE PROVISION, SERVICE SECTOR, SOCIAL CAPITAL, SOCIAL DEVELOPMENT, SOCIAL INDICATORS, SOCIAL PERFORMANCE, SOCIAL PROGRAMS, SOCIAL PROTECTION, SOCIAL SECTOR, SOCIAL SECTOR EXPENDITURES, SOCIAL SECTORS, SOCIAL SERVICES, SOCIAL WELFARE, SOCIALISM, TASK TEAM LEADER, TAX LAW, TAXATION, TECHNICAL ASSISTANCE, TRANSPARENCY, VIOLENCE, WAGES, WORKERS DEVELOPMENT POLICY & PLANNING, GOVERNANCE APPROACH, ECONOMIC GROWTH, POVERTY REDUCTION STRATEGIES, POLITICAL ENVIRONMENT, ETHNICITY, CRIME STATISTICS, VIOLENCE, STRUCTURAL APPROACHES, REFORM POLICY, TAX LAW, SUGAR INDUSTRY, RESTRUCTURING, REVENUE MOBILIZATION, BUSINESS ENVIRONMENT, MACROECONOMIC STABILIZATION, SOCIAL CAPITAL, INFRASTRUCTURE DEVELOPMENT, DIVERSIFICATION, COMPETITIVENESS, MINING SECTOR, FISCAL SUSTAINABILITY, AGRICULTURAL DEVELOPMENT, ENVIRONMENTAL CRITERIA, INVESTMENT ENVIRONMENT, PUBLIC SECTOR MANAGEMENT, HUMAN RESOURCES DEVELOPMENT, FORESTRY