Oct 17, 2026
2 min read
Guyana could pay less to finance certain purchases from overseas suppliers after receiving an improved country risk rating, although the change does not guarantee cheaper loans across the economy.
The Organisation for Economic Co-operation and Development (OECD) upgraded Guyana from Category Five to Category Four, effective October 16, the Ministry of Finance announced on Saturday.
The rating helps determine the minimum insurance premiums charged on certain loans that support the purchase of goods and services from foreign suppliers. A lower rating can reduce these charges, potentially making some financing arrangements cheaper.
However, the upgrade does not automatically lower interest rates on all government loans, mortgages, business loans or other borrowing.
The Ministry said Guyana was one of only two countries upgraded in the latest review. It was previously moved from Category Six to Category Five in 2022.
Finance Minister Dr. Ashni Singh described the latest improvement as “a major signal of continued confidence in Guyana’s economy.” He attributed it to the country’s economic performance, management of public finances and ability to meet its financial obligations.
The OECD uses a scale ranging from Category Zero to Category Seven to assess country credit risk. Lower categories indicate lower risk.
The Ministry cited Guyana’s economic growth and public debt levels as evidence of its improved financial position.
According to the Ministry, the economy grew by an average of 37.3 per cent annually between 2020 and 2025, largely because of expanding offshore oil production. The non-oil economy also grew by an average of 8.2 per cent annually over that period.
The Ministry said public debt fell from 47.4 per cent of gross domestic product at the end of 2020 to 28.6 per cent at the end of 2025. This means the debt became smaller relative to the size of the economy, although it does not necessarily mean the total amount owed decreased.
Guyana’s Natural Resource Fund, which holds the country’s oil revenues, had approximately US$5.5 billion at the end of September, compared with US$3.3 billion at the end of 2025, the Ministry reported.
The government said it would continue to prioritise borrowing for projects expected to deliver clear economic benefits while seeking the lowest-cost financing available.
