Guyana Scales Back Borrowing as Elections Test Oil Boom Stability ...Middle East

Guyana’s government will reduce external borrowing for major infrastructure projects, Vice President Bharrat Jagdeo said, citing the country’s swelling oil revenues and a growing push for fiscal restraint. Speaking at a press briefing, Jagdeo said new revenue flows made it unnecessary to pursue as many external loans for transport and energy projects as previously planned, adding, “We have cash balances,” Demerara Waves reported. The Vice-President underscored that future spending would be more tightly tied to earnings from…

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