Structural Dip In Energy Prices Will Limit Narrowing Of Guyana's Current Account

  • A structural drop in crude oil prices and economic uncertainty in Guyana will keep its current account balance in deficit in the near term, which will be financed by robust capital inflows.
  • In the medium-to-long term, surging crude oil production will turn Guyana’s current account balance to surplus, even as increasing real GDP growth sustains high demand for imports.
  • Fitch expects Guyana's current account deficit will narrow to 20.3% of GDP in 2020, from an estimated 32.1% shortfall in 2019, though weak energy prices will cap export growth.

(Source: Fitch)