President Mohamed Irfaan Ali on Wednesday assured that Guyana is well-positioned to navigate global economic disruptions stemming from conflict in the Middle East, pointing to a series of strategic investments aimed at strengthening long-term energy and food security.
Speaking on his “Tea on the Terrace” programme, the president acknowledged the challenges posed by reduced traffic through the Strait of Hormuz, a critical global shipping route, but emphasised that Guyana’s proactive planning is designed to cushion the impact.
The waterway facilitates roughly one-fifth of global oil supplies, significant volumes of liquefied natural gas, and a substantial share of fertiliser trade. Disruptions have triggered volatility in global markets, with increases in fuel and agricultural input costs.
Ali noted that while these external pressures will inevitably affect countries worldwide, including Guyana, the government has already been implementing policies to reduce vulnerability and build resilience.
Central to that approach is the country’s aggressive push to expand domestic energy capacity and industrial output.
The gas-to-energy project at Wales, expected to come onstream by the end of 2026, is among the flagship initiatives aimed at delivering more reliable and affordable electricity. Plans are also advancing for a second facility in Region Six, along with investments in refining capacity and fertiliser production.
“These projects are about insulating our economy from external shocks while creating opportunities for growth,” Ali said.
He added that by lowering energy costs and supporting agriculture and manufacturing, the initiatives will help stabilise prices and improve competitiveness across key sectors.
The president also pointed to the broader global context, including rising fertiliser costs and concerns flagged by the World Food Programme about increased food insecurity, noting that Guyana’s investments are aligned with addressing those very risks.
“You have a government that is ahead of the planning cycle and one that is ready and willing to make the necessary adjustments,” he said.
Ali underscored that managing global uncertainty requires careful, ongoing policy responses, stressing that Guyana’s strategy is rooted in long-term planning rather than short-term reactions.
“Guyana operates within a global economic framework, but we are building the capacity to respond, adapt and thrive,” he said.