GEORGETOWN, Guyana – The ministry of natural resources announced that Guyana’s suspension from the Extractive Industries Transparency Initiative (EITI) has been lifted; this significant milestone follows the successful submission of Guyana’s EITI Report for the reporting year 2020, demonstrating the country’s commitment to transparency and accountability in the extractive industries.
Guyana’s February 1, 2023 suspension from the EITI was a result of the delay in submission of the report within the prescribed timeline. Without compromise, this report’s submission was done one month ahead of its July 30, 2023 deadline – made possible through diligent work done by the government of Guyana through the ministry of natural resources, the EITI Secretariat and all other relevant stakeholders.
The report provides full disclosure of government revenues from Guyana’s extractive industries, as well as disclosures of all material payments made to the government by companies operating in the oil, gas, mining, forestry and fisheries sectors. The report’s submission highlights the government’s commitment to transparency and its dedication to upholding global best practices. Notably, the government has already begun working on the 2021 report.
The ministry reaffirms its commitment to advancing transparency, accountability, and good governance in the extractive industries. We will continue to work closely with all stakeholders to strengthen systems, improve reporting mechanisms, and promote the sustainable management of Guyana’s natural resources.
The EITI is a global standard that promotes open and responsible management of natural resources, ensuring that revenues generated from oil, gas, and mining sectors are managed in a transparent manner for the benefit of the people.