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Guyana’s Bold Move: Every Citizen to Receive Cash Payouts from Oil Wealth
In a surprising new policy, Guyana—a small yet rapidly growing country nestled in the Caribbean between North and South America—has announced plans to distribute funds directly to its citizens. Following the discovery of substantial oil reserves, which has propelled Guyana to one of the world’s fastest-growing economies, the government has decided to share the wealth with its people. Every Guyanese citizen over the age of 18 will be eligible for a grant totaling 100,000 Guyanese dollars, sourced directly from the nation’s oil revenue. What does this mean for the country’s future? Dive in for more on this groundbreaking decision.
Guyana, which shares borders with countries like Venezuela, Brazil, and Suriname in South America, has become one of the region's standout countries thanks to its high oil revenues.
According to The Independent, the country has a population of 810,000, with approximately 400,000 citizens living abroad.
Citizens living outside of the country will also be able to benefit from government-provided grants.
President Irfaan Ali of Guyana stated that, before taking this step, they consulted thousands of citizens and officials, receiving "extremely positive feedback" from everyone.
Ali added that they particularly want to make things easier for young people just starting out in life.
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