GUYANA AUTHORITIES DECIDE TO SHARE OIL REVENUE WITH CITIZENS

The government of the South American country of Guyana has decided to award its citizens rent payments from the sale of oil worth around £370 per person, The Guardian writes.

The $100,000 Guyanese grant will be available to any citizen over the age of 18 with a valid passport or identity card. Guyanese citizens who are habitual residents abroad will be eligible to receive the payment but must be present in Guyana to receive it.

The payment was initially set at 200,000 Guyanese dollars per family in the country, but the decision was revised due to concerns that some citizens, including young people who had not yet started their own families, would be left without the benefit.

Guyana's economy has tripled since crude oil production began in late 2019. Before that, the country's GDP had been one of the lowest in the region for many years.