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The Multi-stakeholder Steering Group (MSG) of the Guyana Extractive Industries Transparency Initiative (GYEITI) on Friday, December 29, 2023 approved and launched Guyana’s 5th EITI Report, covering Fiscal Year 2021. The report includes material payments made by mining, oil and gas, agriculture, and forest companies to the Government of Guyana.
The report shows an increase in extractive revenues from GYD 93.78b in 2020 to GYD 127.66b in 2021, representing a net increase of 36%. For FY 2021, Oil and Gas recorded GYD 112.43b representing 88% of revenues from the extractive sector, while Mining recorded GYD 13.9b (11%), Forestry recorded GYD 1.18b (1%), and Fisheries GYD .15 (.1%).
The MSG recruited Hart Group / BDO Guyana as Independent Administrator to produce the report. In keeping with Requirement 7.2.c of the EITI Standard, data contained in the report is also published in an Open Data format on GYEITI website at: https://eiti.gy/reports/explore-guyanas-fifth-eiti-country-report-fy-2021/
To build on these efforts, the MSG has also approved the 2024 Workplan which includes implementing the Beneficial Ownership Roadmap, feasibility study on systemic disclosures of EITI data, awareness and community outreach, publication of Guyana 6th EITI report, amongst other activities.
Timely publication of Guyana’s 5th EITI Report demonstrates the Government and MSG’s commitment to fully implementing the EITI Principles and upholding the norms of good governance by providing the public access to activities in the extractive sectors.
