High Stakes in Guyana: Election to Decide Future of Oil Wealth

Guyanese citizens are voting to elect parliament members and a president, impacting the future allocation of oil revenue. President Irfaan Ali seeks re-election, facing opposition questioning the fairness of oil wealth distribution. A new party, WIN, proposes changes, adding uncertainty to the race.

Guyanese voters will make critical choices on Monday, deciding the makeup of their parliament and presidency as the country grapples with the distribution of newfound oil wealth. The election outcome will shape how revenues from Guyana's booming hydrocarbon industry are utilized.

President Irfaan Ali, in power since 2020 with the People's Progressive Party (PPP), has reinvested oil profits in infrastructure and education, offering 20,000 scholarships. Yet, opposition claims the benefits favor politically connected groups, a charge the PPP refutes. Several rival parties are pushing to renegotiate oil contracts, aiming to shift the parliamentary balance.

An emerging player, the We Invest in Nationhood (WIN) party, led by businessman Azruddin Mohamed, advocates for equitable access to resources amid controversy from U.S. sanctions over alleged misconduct. The competitive landscape introduces new dynamics, with polling stations ready to open early and a tight timeline for result announcements by midweek.

(With inputs from agencies.)