this post was submitted on 18 Sep 2023
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Guyana’s economy will expand 38% this year as a wave of oil wealth transforms the South American nation, the International Monetary Fund said Monday.

Massive offshore oil deposits first drilled by Exxon Mobil Corp. in 2015 have allowed the economy to quadruple in size over the last five years, with rapid growth projected to continue for some time.

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[–] Pons_Aelius@kbin.social 20 points 1 year ago

Dutch disease incoming in 3...2...1,