Guyana Government to Give Local Residents 100,000 Guyanese Dollars "oil" dollars (4 photos)

The country's economy is growing thanks to oil, so the authorities decided to give away some money to the population.





The government of the South American country has decided to share its oil wealth with its citizens. Each citizen of the country will receive 100 thousand Guyanese dollars, writes The Guardian.

To receive the payment, you must have Guyanese citizenship and be an adult (18 years and older). Those citizens of the country who live outside its borders can also apply for the coveted oil money. But to receive them, you will have to come to your home country and show your ID.



Initially, the authorities planned to pay 200 thousand Guyanese dollars to each family, but then they thought that with this approach, young people living separately from their parents would be left without money. Then the decision was revised: the amount of the one-time benefit was reduced, but now all adult residents of the country have a chance to receive it.





In 2015, huge oil deposits were discovered off Guyana’s Atlantic coast, and since then the country’s GDP, which had previously been one of the lowest in the region, has steadily increased. Guyana is now experiencing historic economic growth, tripling in size since crude oil production began in late 2019.



President of Guyana Mohamed Irfaan Ali

Currently, 800 thousand people live in the country, about 400 thousand have moved abroad, but are citizens of Guyana. Thus, 1 million 200 thousand Guyanese are laying claim to the "oil" money.

To understand the situation: 100 thousand Guyanese dollars is approximately 370 pounds sterling or 500 dollars.