* Government to set up sovereign wealth fund to invest surplus
* Guyana, a country of 780,000 that neighbours Brazil and Venezuela, will see its economy balloon 86% next year, according to the International Monetary Fund
South America may be battered by weak growth, unrest and austerity but one of its smallest countries is about to experience the fastest economic growth on the planet.
Guyana, a country of 780,000 that neighbors Brazil and Venezuela in the region’s northeast corner, will see its economy balloon 86% next year after expanding 4.4% this year, according to the International Monetary Fund. That’s 14 times the projected pace of China and driven by Exxon Mobil Corp.’s discovery of oil.
“We’re moving from a very low base to a stratospheric leap," Finance Minister Winston Jordan said in a telephone interview from Georgetown.
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WNU Editor: I have been to Guyana a few times. Have some good friends there. Their economy is about to explode because of oil.
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