The World Bank has announced the elevation of Guyana’s status to a ‘high-income’ country, a milestone in the country’s long and testing journey through the cavernous corridors of poverty and the attendant unpalatable sobriquets – ‘Banana Republic’ being one of those – a development which could set the country on the path to a significantly upgraded global image.
The country’s World Bank-bestowed accolade that lifts Guyana out of the doldrums that have long dogged the country’s global profile is linked to a significant reassessment of the country’s global standing arising out of its confirmed ‘world class’ oil finds.
Guyana apart, the World Bank has also adjusted the status of several other countries in its latest annual review, based on their economic performance over the previous year.