Currencies by Country:

What is the Guyanese dollar (GYD)?

Credit Ratings & Outlook

Sovereign credit ratings play an important part in determining a country’s access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.

GDP

In 2010 the total GDP was $2,225,615,170 in US Dollars, while the per capita GDP was $2,947. It grew by 3.60% over the previous year.

Unemployment

The latest unemployment rate for 2009 is 9.00%.

Consumer Price Index

The latest consumer price index for 2010 is 135.94.

Political Structure

The current head of the government is Prime Minister Sam Hinds, and the head of state is President Donald Ramotar (in an executive role).

Currency Details

The Guyanese dollar, denoted by GYD, is the official currency used in Guyana. Little information is available about the currency.

Travel Notes

The import and export of local currency is limited to G0. The import of foreign currency is unlimited, provided declared in writing on arrival. The export of foreign currency is limited to the amount imported and declared. The Guyanese Dollar is not negotiable abroad.

Sovereign Ratings for Guyana

Guyana is not rated.

What does it look like?

Political Structure

The Guyanese government is led by the president, who appoints and supervises the prime minister and other ministers. The president is not directly elected, but instead, each party presenting a slate of candidates for the assembly must designate?in advance?a leader who will become president if that party gets the majority of votes. The legislative area of the government is its unicameral parliament, the National Assembly, which consists of 53 members chosen on the basis of proportional representation from national lists named by the political parties. An additional 12 members are elected by regional councils at the same time as the National Assembly. The highest judicial body of the Guyanese government is the Court of Appeal, headed by a chancellor of the judiciary. The second level is the High Court, presided over by a chief justice. The chancellor and the chief justice are appointed by the president. Guyana is a full & participating member of the Caribbean Community (CARICOM).

Prominent Figures

Chief of State President Bharrat JAGDEO (since 11 August 1999); note – assumed presidency after resignation of President Janet JAGAN and was reelected in 2001, and again in 2006 Head of Government Prime Minister Samuel HINDS (since October 1992, except for a period as chief of state after the death of President Cheddi JAGAN on 6 March 1997) Cabinet Cabinet of Ministers appointed by the president, responsible to the legislature Elections president elected by popular vote as leader of a party list in parliamentary elections, which must be held at least every five years (no term limits); elections last held 28 August 2006 (next to be held by August 2011); prime minister appointed by the president Election Results President Bharrat JAGDEO reelected; percent of vote 54.6%

Key Economic Factors

Economic Overview:

Guyana’s economy saw significant economic growth at the turn of the century in 2001-02 due to its expansion of agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, relatively low inflation and the continued support of international organizations. Growth slowed a year later in 2003 but revived itself in 2004, buoyed largely by increased export earnings. Chronic problems include a shortage of skilled labor and a lacking infrastructure. Today, Guyana is juggling a sizable external debt against the pressing need fir expanded public investment. The bauxite mining sector should benefit in the near future from restructuring and fractional privatization.

Industries:

Bauxite, sugar, rice milling, timber, textiles and gold mining.

Agricultural Products:

Sugar, rice, wheat, vegetable oils, beef, pork, poultry, dairy products, fish and shrimp.

Export Commodities:

Sugar, gold, bauxite/alumina, rice, shrimp, molasses, rum and timber.

Import Commodities:

Manufactures, machinery, petroleum and food.

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