Economic Development Begins in the Mind of a Nation’s People

Apr 19, 2026 Features / Columnists, News

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By Dr. Karen Abrams, MBA AA

(Kaieteur News) – Guyana is awash in oil revenue, and the recent Iran vs Israel-US war has driven a drastic spike in oil prices, further driving up the cost of living while pushing projected earnings even higher. The Ministry of Finance reports that Guyana earned over US$761 million in the first three months of 2026,  a new milestone since production began in December 2019, with oil prices holding above US$100 per barrel. Global oil prices have surged more than 25 percent since the start of the war, and the windfall for oil producing nations like Guyana is real. The challenge for Guyana is figuring out how to invest those revenues in ways that will reduce the suffering of significant numbers of Guyanese while delivering returns to current and future generations.

The talk of development is everywhere in Guyana but there is little consensus on exactly what our leaders mean by development. Most experts agree that development means that life will be made easier for all citizens and that government’s core responsibilities, among them; roads, electricity, healthcare, education, water, solid waste management, the sewage network, laws and justice, public service workforce management,  support for Sports and the Arts, and a social safety net for the vulnerable, will be built and maintained so well that they provide a solid foundation upon which the private sector, civil society or any citizen, could build companies, and programmes, which expand opportunities for all.

Even before oil, Guyana was blessed with gold, diamonds, bauxite, rice, sugar, sunlight, and rain; magnificent wealth, which, since before independence, has seen the lion’s share of its benefits flow to foreign companies and a handful of wealthy families. When the story of Guyana’s oil is written, will a handful of families and foreign companies once again remain the main beneficiaries?

In a country awash with wealth, we simply must ensure that all of our children; whether they live in Tiger Bay, Bath Settlement, Bydaraboo, Awarawaunau; or in any other village in Guyana, are prepared to thrive and to contribute meaningfully to the optional development of our beloved nation.

But such a vision runs right up against some pervasive and structural challenges. The Inter-American Development Bank’s 2024 working paper Ten Findings about Poverty in Latin America and the Caribbean estimates that 58% of Guyanese live in poverty, while 32% live in extreme poverty, placing us among the four highest-poverty countries in the region. Couple that with a tiny middle class and a struggling education system in which, by the Ministry of Education’s own Education Sector Plan 2021–2025, only half of a given cohort enrolled at the general secondary level survives to the final grade, just 39% of boys and 62% of girls,  and we realise, quickly, that ours is a pretty significant problem that will not be solved by money alone..

It is my view that development means that we first have to adjust to the idea that we are a wealthy nation, and that we must help our government to be exceptional, (not simply good) at providing basic services.
Every family must develop a mindset for success. Every child will not make it into college, but we should strive to ensure that every child should be numerate, literate, and complete high school. The better we prepare our children for success, the more likely they are to benefit optimally from our nation’s wealth.

Developing a mindset for success from right where you are might look like treating every job as a training ground. The security guard who learns to use a computer, the shop attendant who learns inventory, the domestic worker who learns to cook new dishes, each is building a skill someone will pay more for later. Even the college graduate who is dissatisfied with their wages must research and work on finding new opportunities or else plan to venture into entrepreneurship.

A good rule is to learn one new thing every month. A short course at GTI, a YouTube trade skill, bookkeeping, tiling, solar installation, nail technology, phone repair. The oil economy needs trades person as much as it needs engineers.  Enroll your children in online lessons like the Pathway Online Academy program (ask about scholarships), an inexpensive and quality option for reinforcing what is learned in school in Math, English, Science and Social Students while helping to boost in-class academic performance and student self-confidence. Finally, show up on time, finish what you start, and keep your word. In a small country, your name travels faster than your CV.

Our nation’s resources must benefit more than a handful of wealthy families who use privilege to navigate a system stacked against the disadvantaged. Citizens must prepare, push, and insist on the efficient and professional delivery of services and equal access to opportunities for all.

No child should go to bed hungry. No school-age child should be out of school. Illiteracy must become a thing of the recent past and all citizens should be rewarded based on ability and contribution.

Guyana is at the crossroads, and we the people must decide what kind of nation we wish our grandchildren to enjoy. Do we want more high fences, closed gates, barred windows, and endless fears? Or can we envision a country where our foundation services are so solid that every citizen is prepared to contribute optimally, to drive innovation, to expand and diversify the local economy, to provide high-quality, high-paying jobs, and to build wealth for generations, not because they have unique access and privileges, but because each citizen can access opportunity equally, and, coupled with hard work, achieve success.

Development is more than double-digit GDP growth. Development begins in the minds of every citizen as they come to believe that a path to a good life is available for every citizen. Development begins when leaders make us believe in a big vision, and then provide the foundation for its achievement.

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• economic development, Karen Abrams, Nation’s People, oil revenue

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