Guyana’s president sworn in for a second term as oil wealth transforms the nation

AP | Guyana’s President Irfaan Ali was sworn in for a second term Sunday after winning last week’s elections, as the South American country reaps a windfall from offshore oil and gas production.

The electoral commission certified Ali’s win on Saturday, saying he had “secured a resounding victory” and his People’s Progressive Party had secured a majority in Parliament, with 36 of the 65 seats.

Guyana, has drawn increasing attention for the vast oil reserves discovered offshore a decade ago and mineral wealth. The resource-rich Essequibo region – administered by Guyana but claimed by Venezuela – remains a point of tension.

Ali has won praise for channeling some of Guyana’s new oil wealth into popular social programs.

In a speech after being sworn in, the 45-year-old urban planner sent a message of unity. He promised new development that would rapidly expand the economy and said he would continue social programs that “build more prosperity in every family and every home.”

“The next five years will be the most consequential in our nation,” he said. “History has placed our hands on the resources, the opportunities, the partnerships and the international goodwill to transform promise into reality.”

Ali has overseen multiple construction projects, including hospitals and highways. His administration expects to start offering free college tuition this month.

He also has pledged to increase the monthly minimum wage, more than double pensions to $500 for people 65 and older and cut power bills in half by next year.