Guyana’s public debt has ballooned to over US$7.7 billion in 2026, a sixfold increase from the US$1.8 billion recorded in 2019, according to reports from The Rio Times.
The surge comes even as the country enjoys record oil revenues, with official gazette filings showing approximately US$1.996 billion collected in the first half of 2026 alone.
This disparity between soaring income and mounting liabilities is intensifying domestic political tensions and reviving concerns about a potential resource curse.
The rapid expansion of debt contrasts sharply with the nation’s status as one of the world’s fastest-growing economies, driven by offshore oil production.
Critics argue that the wealth generated by the sector is disproportionately benefiting a connected few while failing to address broader structural fiscal challenges.
The rising debt burden suggests that capital expenditure and borrowing have outpaced the immediate fiscal benefits of oil production, raising questions about the sustainability of the current growth model.