Guyana, once the poorest or second poorest country in South America, and one of the poorest in the world, is making full circle turnout to becoming the richest in South America, and possibly the world. But this did not happen overnight. In 2015, Exxon Mobil announced humongous oil discoveries off the coasts of Guyana. Four years later, in 2019, Guyana, under the then David Granger Administration, exported its “first oil.” And nearly 9 years after the oil discovery, Guyana now boasts the highest GDP per capita, by far, in South America. And it is expected to climb further over the next ten years.
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In order to compile a list of the 20 countries with the highest rate of economic growth in 10 years, we sourced data from the International Monetary Fund (IMF). The most recent data was available from 2022. We considered the growth in real GDP for all countries over the last 10 years. We averaged the real GDP growth rates of countries over the last 10 years and ranked them in ascending order.