NRF balance amounted to just under US$4B as of May 2026 – Finance Minister tells National Assembly

Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, today presented the Natural Resource Fund (NRF) Annual Report for the fiscal year 2025 to the National Assembly, pursuant to Section 32(4) of the Natural Resource Fund Act 2021, demonstrating the PPP/C Government’s strong track record on governance and transparency and accountability in the management of the oil and gas sector.

Minister Singh acknowledged the continued diligence of the members of the NRF Board, the Public Accountability and Oversight Committee, and the Investment Committee in executing their roles in support of this important national institution – the Natural Resource Fund.

The Board of Directors of the NRF were re-appointed on August 31 2024, and the members are as follows:

1. Major General (Retired) Joseph Singh, MSS, Chairperson
2. Mr. Dunstan Barrow, A.A., Director (Nominated by the National Assembly)
3. Mr. Ramesh Dookhoo, Director (Representative of the Private Sector)
4. Ms. Carolyn Rodrigues-Birkett, Director
5. Professor Compton Bourne, O.E., Director

At today’s sitting of the National Assembly, the Speaker of the National Assembly also circulated the Public Accountability and Oversight Committee Annual Report for the fiscal year 2025, pursuant to Section 6(6) of the Natural Resource Fund Act 2021. The Public Accountability and Oversight Committee of the Fund was re-appointed on August 31, 2024 and the members are as follows:

1. Mr. Clement Sealey, Chairperson (Nominee of the National Assembly)
2. Pastor Wendell Jeffrey, Member (Representative of the Religious Community)
3. Ms. Savitri Balbahadur, Member (Representative of the Religious Community)
4. Mr. Abu Zaman, Member (Representative of the Religious Community)
5. Mr. Desmond Sears, Member (Representative of the Private Sector)
6. Mr. Ryan Alexander, Member (Representative of the Private Sector)
7. Mr. Aslim Singh, Member (Representative of Organised Labour)
8. Ms. Dawn Gardener, Member (Representative of Organised Labour)
9. Mr. Teni Housty, Member (Representative of the Professions)

The 9-member Public Accountability and Oversight Committee is responsible for providing non-governmental oversight of the operations of the Fund, replacing the cumbersome 22-member committee previously proposed in the NRF Act 2019.

The Senior Finance Minister also presented today, Notification of Receipts to the National Assembly of all petroleum revenues paid into the NRF during the period April 1, 2026 to June 30, 2026, pursuant to Section 33 (2) of the NRF Act 2021. The NRF balance at the end of May 2026 amounted to just under US$4 billion.

In its Staff Concluding Statement of the 2025 Article IV Mission, the International Monetary Fund commended the Government of Guyana on the progress made to strengthen the management of oil wealth and its fiscal transparency:

“The authorities have advanced in enhancing governance of the NRF and modernizing public sector operations. The 2023 NRF and Public Accountability and Oversight Committee Annual Reports have been presented to the National Assembly, regular notifications of receipts of petroleum revenues, as mandated by law, are published in the Official Gazette and presented to the National Assembly, and the Bank of Guyana publishes monthly and quarterly reports of the NRF’s financial performance.”.

The PPP/C Government said it will maintain its transparent and accountable management of Guyana’s oil and gas sector, and will ensure that NRF resources are directed toward investments that deliver lasting benefits for current and future generations.