From Riverbanks to Riches: Guyana’s Oil Boom and the Bharrat Jagdeo Demerara River Bridge

The 2.6 kilometer bridge in the final stages of construction in 2025 (GMSA, 2025).

The South American nation of Guyana is the fastest-growing economy on Earth. The small country that was a British colony for almost 200 years experienced an economic boom when significant oil reserves were discovered off of Guyana’s shore by ExxonMobil in May 2015 (Munoz-Cortijo, 2024). Today, Guyana has an estimated 11 billion oil-equivalent barrels of recoverable oil and natural gas resources, making it one of the world's most oil-rich countries (Munoz-Cortijo, 2024). In the 21st Century, the nation has consistently experienced the highest annual real GDP growth globally, with a 63.3% growth rate in 2022, 33.8% in 2023, and 43.6% in 2024 (IMF, 2025). Furthermore, Guyana’s GDP per capita increased by 45.53% in 2021, and a notable 81.66% increase in 2022, with trends of exponential growth continuing (Macrotrends, 2025). It is clear that the small nation has “struck liquid gold,” however, without a comparatively stable government with corruption, Guyana is vulnerable to exploitation by ExxonMobil. The country ranks 85 out of 180 countries on the International Transparency Government Index, which is evident in the nation’s loss of over $55 billion USD in potential revenues after signing unilateral contracts with oil companies, most notably ExxonMobil (Mee, 2023). Furthermore, overspending of these new revenues is a risk, especially since investing in the oil and gas industry is costly, including “the installation of a 200-kilometer pipeline for pumping gas onshore” (Mee, 2023). With these factors being considered, it is clear that Guyana’s economic development faces severe challenges; however, President Ali’s government has “sought financial aid from the IMF and the World Bank, as well as lawyers, consultants and energy strategists to improve its fiscal, legal, and regulatory infrastructure” (Mee, 2023). 

This surge in wealth enabled the construction of Guyana’s most notable projects to date (costing approximately $262 million USD) in December 2022, the Bharrat Jagdeo Demerara Bridge, a four-lane, high-span, cable-stayed bridge that spans 2.6 kilometers across the Demerara River, connecting Region Three (Essequibo Islands-West Demerara) to Region Four (Demerara-Mahaica) (Dey, 2025). President Irfaan Ali officially opened the bridge on October 5, naming it after Dr. Bharrat Jagdeo, Guyana’s current vice-president, who has made crucial contributions to the nation’s national development and socio-economic progress for decades, in the form of policies leading to improved access to education and healthcare, significantly reducing national debt, and policies regarding climate activism (Parris, 2025). The bridge provides the nation with economic opportunities that were not previously possible. The bridge allows commuters to travel from one side of the river to the other with ease, and furthermore, will encourage economic activities and trade between Regions Three and Four, and boosting regional trade with Brazil, significantly enhancing economic growth potential (Guyana Times, 2025). Trade that will benefit citizens on both sides of the river will now be possible. Guyanese families will now have easy access to more goods and services (agricultural produce, oil and gas supplies, etc), and allow businesses to transport more cheaply and freely, significantly cutting down business costs and promoting strong business, a thriving sector in other CARICOM members such as Barbados, Jamaica, and Trinidad and Tobago. As President Ali has stated, the bridge represents Guyana’s transformation and “will serve not simply as a crossing but a catalyst that will spur growth across the country” (Parris, 2025). 

The bridge is a testament to Guyana’s goal of modern engineering and economic sustainability, with its design aiming to meet modern environmental and safety standards, preventing the nation from facing future, expensive infrastructure issues. With Guyana being the only nation on Earth that is fully food self-sufficient, the government and citizens alike pride themselves on sustainable systems and practices to preserve this self-sufficiency and expand it into different sectors, including infrastructure and manufacturing (Willmoth, 2025). Considering that this economic growth has been attained by oil, it is important to understand the negative implications of pumping oil, including health impacts and environmental injustice (e.g. pollution). President Ali’s government is ensuring that this bridge will cause economic momentum for the country, promoting efficiency regarding trade, commuting, and sustainable infrastructure. 

With Guyana being one of the world’s fastest-growing nations economically, the current government, even whilst being vulnerable to economic exploitation, has established a strong vision for a prospering future, beginning with the Bharrat Jagdeo Demerara River Bridge.

References

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GTIMES, & GTIMES. (2025, June 14). “Not vanity projects” - Jagdeo to critics of infrastructure, economic enhancements - Guyana Times. Guyana Times. https://guyanatimesgy.com/not-vanity-projects-jagdeo-to-critics-of-infrastructure-economic-enhancements/ 

Guyana becomes key contributor to global crude oil supply growth - U.S. Energy Information Administration (EIA). (2024, May 21). Www.eia.gov. https://www.eia.gov/todayinenergy/detail.php?id=62103 

Guyana GDP Per Capita 1960-2024. (2024). Macrotrends.net. https://www.macrotrends.net/global-metrics/countries/guy/guyana/gdp-per-capita 

Hatty Willmoth. (2025, May 22). Only one country in the world produces all the food it needs, study finds. BBC Science Focus Magazine. https://www.sciencefocus.com/news/only-one-country-produces-food-it-needs-self-sufficient 

Hosein, R. (2021). Oil and Gas in Trinidad and Tobago. Springer International Publishing. https://doi.org/10.1007/978-3-030-77669-5 

https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/GUY?zoom=GUY&highlight= GUY. (n.d.). Www.imf.org.   https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/GUY?zoom=GUY&highlight=GUY 

New Bharrat Jagdeo Demerara River Bridge opens to commuters from today - Guyana Chronicle. (2025, October 6). Guyana Chronicle. https://guyanachronicle.com/2025/10/06/new-bharrat-jagdeo-demerara-river-bridge-opens-to-commuters-from-today/ 

News - Guyana Manufacturing & Services Association Ltd. (2023, March 9). Guyana Manufacturing & Services Association Ltd. https://gmsagy.org/news/