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

Key Points

• Guyana's President Irfaan Ali was sworn in for a second term after winning a decisive victory in recent elections, with his party holding a majority in Parliament.
• The country is experiencing significant economic growth due to offshore oil and gas production, attracting international attention and investment.
• Ali plans to use the newfound oil wealth to fund social programs, increase the minimum wage, offer free college tuition, and significantly raise pensions.
• The U.S. State Department expressed support for Ali's administration, emphasizing goals like strengthening energy security and maintaining Guyana's sovereignty over the disputed Essequibo region.

MEXICO CITY (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, wedged between Brazil, Venezuela and Suriname, 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.

In the election, Ali faced off against a wealthy 38-year-old businessman, Azruddin Mohamed, who has been sanctioned, along with his father and their gold-exporting company, by the U.S. Treasury Department “for their roles in public corruption."

On Sunday, the U.S. State Department congratulated Ali, writing in a statement that it looked forward to working with Ali's government "to advance our shared foreign policy priorities, including strengthening energy security and supporting Guyana’s sovereignty and territorial integrity, particularly with respect to the Essequibo region.”