Guyana Guyana Background Originally a Dutch colony in the 17th century, by 1815 Guyana had become a British possession. The abolition of slavery led to black settlement of urban areas and the importation of indentured servants from India to work the sugar plantations. This ethnocultural divide has persisted and has led to turbulent politics. Guyana achieved independence from the UK in 1966, but until the early 1990s it was ruled mostly by socialist-oriented governments. In 1992, Cheddi JAGAN was elected president, in what is considered the country's first free and fair election since independence. Upon his death five years later, he was succeeded by his wife Janet, who resigned in 1999 due to poor health. Her successor, Bharrat JAGDEO, was reelected in 2001. Guyana Economy The Guyanese economy has exhibited moderate economic growth in 2001-02, based on expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations. Chronic problems include a shortage of skilled labor and a deficient infrastructure. The government is juggling a sizable external debt against the urgent need for expanded public investment. The bauxite mining sector should benefit in the near term by restructuring and partial privatization. Guyana Location Northern South America, bordering the North Atlantic Ocean, between Suriname and Venezuela Guyana Flag green, with a red isosceles triangle (based on the hoist side) superimposed on a long, yellow arrowhead; there is a narrow, black border between the red and yellow, and a narrow, white border between the yellow and the green
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