The International Monetary Fund says Guyana’s Gas-to-Energy project is expected to significantly reduce the country’s reliance on fuel-based power generation by 2027, lowering energy costs and supporting long-term competitiveness.
The assessment was contained in the IMF staff concluding statement following its 2026 Article IV Consultation with Guyana. The mission, led by Lusine Lusinyan, held discussions virtually and in Georgetown from July 20 to 31 with senior government officials, private sector representatives, banks, labour unions and other stakeholders.
In its statement, the IMF said Guyana remains at the forefront of market-based forest conservation while moving ahead with a cleaner and more cost-effective energy mix.
“The Gas-to-Energy project is expected to significantly reduce reliance on fuel-based power generation by 2027, with limited use subsequently as demand expands, lowering energy costs and supporting long-term competitiveness,” the IMF said.
The project is a key part of Guyana’s wider energy transition and economic diversification agenda, as the country seeks to reduce electricity costs, improve reliability and create more competitive conditions for businesses.
The IMF said Guyana’s broader development strategy remains focused on diversification, resilience and sustainability, building on the country’s Low Carbon Development Strategy 2030.
According to the Fund, large investments in physical and human capital are supporting non-oil growth and improving outcomes, particularly in health and education. It noted that prudent macroeconomic policies have also helped maintain stability while supporting national development priorities.
Guyana’s economy, the IMF said, continues to expand at a rapid pace, driven by strong oil and non-oil activity. Real GDP grew by more than 19 per cent in 2025, following average growth of nearly 40 per cent during 2023 and 2024.
Looking ahead, the IMF said Guyana’s economic outlook remains highly favourable.
