Guyana (Co-operative Republic of Guyana)
Flag of Guyana |
The region known as "the Guianas" consists of the large shield landmass north of the Amazon River and east of the Orinoco River known as the "land of many waters". Nine indigenous tribes reside in Guyana: the Wai Wai, Macushi, Patamona, Lokono, Kalina, Wapishana, Pemon, Akawaio and Warao. Historically dominated by the Lokono and Kalina tribes, Guyana was colonised by the Dutch before coming under British control in the late 18th century. It was governed as British Guiana, with a mostly plantation-style economy until the 1950s. It gained independence in 1966, and officially became a republic within the Commonwealth of Nations in 1970. The legacy of British rule is reflected in the country's political administration and diverse population, which includes Indian, African, Indigenous, Chinese, Portuguese, other European, and various multiracial groups. In 2017, 41% of the population of Guyana lived below the poverty line.
Guyana is the only South American nation in which English is the official language. However, the majority of the population speak Guyanese Creole, an English-based creole language, as a first language. Guyana is part of the Anglophone Caribbean. It is part of the mainland Caribbean region maintaining strong cultural, historical, and political ties with other Caribbean countries as well as serving as the headquarters for the Caribbean Community (CARICOM). In 2008, the country joined the Union of South American Nations as a founding member.
Guyana's economy has been undergoing a transformation since the discovery of crude oil in 2015 and commercial drilling in 2019, being one of the only economies to grow despite the pandemic in 2020 at 49% GDP growth through the year. Due to Guyana's small population and as much as 11 billion barrels in oil reserves, the country is on course to become one of the largest per capita oil producers in the world by 2030. The discovery of over 11 billion barrels of oil reserves off the coast of Guyana in the last five years is the largest addition to global oil reserves in the last 50 years. Guyana is now ranked as having the fourth-highest GDP per capita in the Americas after the United States, Canada, and The Bahamas, and has been one of the countries with the most improvement in Human Development Index ranking since 2015.
The name "Guyana" derives from Guiana, the original name for the region that included Guyana (British Guiana), Suriname (Dutch Guiana), French Guiana, and the Guayana Region in Venezuela (Spanish Guyana) and Amapá in Brazil (Portuguese Guiana). According to the Oxford English Dictionary, "Guyana" comes from an indigenous Amerindian language and means "land of many waters". The Co‑operative Republic of Guyana in the official name referred to co-operative socialism.
Currency / Language
ISO | Currency | Symbol | Significant figures |
---|---|---|---|
GYD | Guyanese dollar | $ | 2 |
ISO | Language |
---|---|
EN | English language |