A South American country has announced it will distribute $478 (more than 132,000 Pakistani rupees) to each of its citizens.
Not only will this payment be given to residents within the country, but it will also be available to its citizens living abroad. Indeed, Guyana has declared that it will use its oil revenue to share this wealth directly with the public.
According to Geo News report, every Guyanese citizen aged 18 or older will receive 100,000 Guyanese dollars by simply presenting a passport or ID card. Those residing overseas are also eligible, though they must return home to claim it.
President Irfaan Ali announced this remarkable program, stating, “In recent days, millions of citizens have reached out to me and my cabinet members, showing support for the actions we took last week.”
Initially, the government had planned to give 200,000 Guyanese dollars per household. However, due to concerns raised by citizens, adjustments were made. Some people worried that young individuals who haven’t yet started families would miss out on the aid.
President Ali emphasized that including every individual will address these concerns, ensuring that no young person misses out on this financial benefit. With a total population of around 800,000, the program is expected to cover about 400,000 citizens.
Guyana has seen historic economic growth, with its economy tripling in size over the past five years. This growth has been driven by oil exports, transforming what was once the region’s lowest GDP a decade ago. The 2015 discovery of vast oil reserves changed Guyana’s trajectory, placing it among the world’s fastest-growing economies.
