Guyana's GDP Skyrocket by Over 40% in a Single Year Thanks to Oil Boom

Impoverished South American country Guyana, once long ignored by the world, has emerged as a major global oil producer after supermajor Exxon made a swath of world-class discoveries in its territorial waters. Since production began in 2019, the national government in the capital, Georgetown, has reaped a massive economic windfall, with gross domestic product (GDP) surging to record highs. In as little as four years since the height of the COVID-19 pandemic, Guyana’s economy has more than tripled in size, experiencing enviable…