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Country Report Guyana Product Image

Country Report Guyana

  • Published: September 2014
  • Region: Guyana
  • 28 Pages
  • The Economist Intelligence Unit

As a mix of small- and micro-island states speaking three languages, using 12 currencies and possessing disparate cultures, income levels and legal traditions, the Caribbean Community (Caricom) has long struggled to fulfill its goal of creating a true common market. Nonetheless, aided by EU-funded consultants hired in August, the group is redoubling efforts to create standard rules on competition, consumer protection and bankruptcy to put the Caricom Single Market and Economy (CSME) into practice.

Caricom's 15 members, plus five associate members, include an estimated 17.2m people. But despite ambitions of emulating the EU's success, a lack of co-operation limits Caricom's usefulness. Much-publicised declarations of collaboration in principle have rarely been followed by actual implementation. This has had negative ramifications for the business climate. No Caribbean nation features in the top-50 places in the World Bank's annual Ease of Doing Business report. St Lucia is ranked 64th and Haiti, which comprises more than half of Caricom's population, is listed 177th out of 189 countries.

Achieving the region's full economic potential is hampered by a difficult geography, READ MORE >

Country Report Guyana

Caricom harmonising business rules
Obstacles to integration abound

Amgen

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