Guyana experienced serious balance of payments difficulties during the late 1980s. The value of imports was roughly in balance with the value of exports in 1988 and 1989 but interest payments on the foreign debt drained the nation's financial resources. The balance of payments situation would have been much worse if Guyana had not withheld payment on much of its debt. Even though it did not include the mounting arrears on debt payments, the deficit in the overall balance of payments averaged US$150 million between 1985 and 1990, or about 50 percent of GDP.
Data as of January 1992