How Guyana Can Avoid the ‘Oil Curse’

Guyana’s economy is the fastest growing in the world, driven by a booming oil sector. The South American nation’s reserves are so vast that Venezuela is escalating claims to its neighbor’s oil-rich Essequibo region. Guyana’s fossil fuel supply poses other challenges, too. While natural resource windfalls can create phenomenal wealth, they can lead to hyperinflation, social and political upheaval and severe income inequality.

Chapters:
00:00 introduction
01:34 Guyana’s economic boom
03:25 The paradox of plenty
4:25 Risk of inequality
5:38 Escaping the resource curse

--------
Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1
Become a Quicktake Member for exclusive perks: http://www.youtube.com/bloomberg/join

Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.

Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.

Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.