IMF Deputy MD Kenji Okamura at the Conclusion of His Visit to Guyana
Georgetown, GUYANA (DT) – At the conclusion of his inaugural visit to Guyana, Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), expressed his delight and gratitude for the warm reception and productive engagements with Guyanese officials and communities.
“I am delighted to be in Guyana. This is my first visit, and I would like to thank President Irfaan Ali, Vice President Bharrat Jagdeo, Prime Minister Mark Phillips, Finance Minister Ashni Singh, as well as other ministers and senior officials for their warm hospitality and for the productive meetings,” Mr. Okamura remarked.
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During his visit, Mr. Okamura had the opportunity to engage with representatives from various sectors, including health, housing, the Amerindian community of Moraikobai, and the private sector. He commended Guyana on its unparalleled economic expansion and its strategic plans to harness rapidly increasing oil revenues.
“Guyana today is in the position to reap the benefits of rapidly increasing oil revenues due to the hard-won gains from implementing reforms and adjustments over the years,” Mr. Okamura stated. He emphasized that these plans, coupled with strong progress, are positively impacting the entire population by enhancing healthcare, education, housing policies, and infrastructure development.
Furthermore, Mr. Okamura highlighted the importance of these initiatives in providing current and future generations with entrepreneurial and work opportunities. He emphasized the need for continued economic growth and the development of a more diversified and climate-resilient economy.
The visit of Mr. Kenji Okamura underscores the IMF’s commitment to supporting Guyana’s economic development and prosperity.
“I commended the authorities for the visionary Low Carbon Development Strategy 2030. The sale of carbon credits and use of these funds supports the Amerindian population, finances climate adaptation needs, and fosters renewable and cleaner energy needed for development. The strategy, which includes marine conservancy and increased biodiversity goals, is ambitious.
“Notwithstanding the recent economic boom, Guyana still faces significant human and infrastructure development needs. I strongly support the authorities’ efforts to improve economic welfare through public investment, while avoiding the non-trivial risk of economic overheating. The authorities have managed this transformation successfully thus far, and we agreed that continuing to maintain macroeconomic stability and debt sustainability are paramount.
“In addition, we discussed the authorities’ efforts to develop a large skilled labor force to ensure a balanced growth path with low inflation and opportunities for well-paying jobs throughout the country.
“We also discussed, and I applauded the authorities for driving the charge to reduce food imports by 25 percent in the Caribbean region by 2025 and move closer to the goal of achieving food security.
“Lastly, I gained a deeper understanding of Guyana’s impressive economic transformation, and I very much appreciate the excellent, long-standing relations between Guyana and the IMF. I look forward to our continued partnership through regular policy dialogue and technical assistance, including through the Caribbean Region Technical Assistance Center.”