Guyana, the tiny South American nation, is giving $2,000 to every household in the country.
AdvertisementThe world's fastest-growing economy is handing the equivalent of $2,000 to every household as it works to share its newfound oil wealth and soften the sting of higher living costs.
Its oil fund held over $1.7 trillion of assets at the end of June, or more than $300,000 per Norwegian citizen.
Sharing the wealthGuyana's $2,000 payment to households "sounds like great news," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about universal basic income (UBI) told BI.
Guyana's one-off, unconditional cash grant is a "positive step," Cleo Goodman, the basic income lead at the Autonomy Institute think tank, told BI.
Persons:
—, Mohamed Irfaan Ali of, Ali, They've, Nicolas Suarez, Suarez, Karl Widerquist, Cleo Goodman
Organizations:
Service, Department, Public, Guyanese, P Global Market Intelligence, Resource Fund, Bank, Exxon, Guyana ramped, Monetary Fund, Georgetown University, Qatar, Autonomy Institute
Locations:
Guyana, Mohamed Irfaan Ali of Guyana, America, Riding, Britain, Venezuela, Brazil, Suriname, Netherlands