The Government of Guyana has made its fourth transfer for 2024 from the Natural Resource Fund (NRF), amounting to US$300 million (G$62.394 billion), according to a statement issued yesterday by the Ministry of Finance.
The transfer, made on October 1, 2024, brings the total withdrawals from the NRF for the year to US$1.150 billion (G$239.176 billion).The total approved for withdrawal in 2024 stands at US$1.586 billion (G$329.9 billion), as sanctioned under the NRF Act 2021, amended by the Fiscal Enactments (Amendment) Act 2024. Parliamentary approval earlier this year authorized the disbursement of US$1.586 billion from the fund.
This year marks the fifth anniversary of oil production in Guyana, a milestone that has fueled ongoing debate over the management of the country’s natural resources and the long-term impact of its oil wealth.
