In addition, the IMF also has pointed out that the global economy is faced with downside risks, mainly due to the effects of the trade friction between the United States and China. With regard to this friction, negotiations have continued between the two countries since the turn of 2019, but it remains difficult to project developments.
The downward trend in global food prices will help to reduce food price inflation; expected increases in domestic agricultural production and increased food imports from Guyana should also help to bring down food prices. The Government has indicated that it will respond to projected reduction in energy tax collections by trimming expenditures. The Central Bank is committed to tightening the monetary stance as required.