A further G$43 billion has been taken out of the Natural Resource Fund by the Government of Guyana, bringing the total for 2022 to G$126 billion

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WhatsApp Image 2022-12-15 at 9.12.58 AM-524aad9c
Senior Finance Minister, Dr. Ashni Singh

The third withdrawal from the Natural Resource Fund, totalling US$207.6M (G$43 billion), was made by the Government of Guyana, according to Senior Finance Minister, Dr. Ashni Singh.

In order to finance national development priorities, this amount has been moved from the Natural Resource Fund to the Consolidated Fund.

The Minister indicated that pursuant to Section 16 of the Natural Resource Fund (NRF) Act 2021, the Government made withdrawals of US$400 million, or G$83 billion, between May and July of this year. This takes the total withdrawals from the NRF for 2022 to US$607.6 million, or G$126 billion, which is in accordance with the amount authorized in the 2022 budget.

On January 1, 2022, the NRF Act 2021 went into effect.

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