"The Guyanese haven't had the experience with this type of windfall, and it is coming so suddenly," Valerie Marcel, an associate fellow at think tank Chatham House, told CNBC via telephone on Monday. Bartica is a town at the confluence of two major rivers and is the launching point for people who work in the jungle regions, mining gold and diamonds.The Guyanese haven't had the experience with this type of windfall, and it is coming so suddenly.Pedestrians walk past the International Monetary Fund headquarters in Washington, D.C. Guyana, a country of about 780,000 which shares a border with Brazil, Suriname and Venezuela in the northeast of South America, will see economic … All of the major economies were either in crisis a year ago, are still in one or are coming out of a recession. The economic term is most commonly associated with the paradox which occurs when good news, such as Guyana's discovery of large oil reserves, harms a country's broader economy. "The commencement of oil production in 2020 presents an opportunity to scale-up capital and current spending at a measured pace over the medium term to address infrastructure gaps and human development needs, while attenuating debt sustainability concerns at the same time," a staff team from the IMF However, the Washington D.C.-based organization was quick to issue a word of warning about the potential dangers that could coincide with such rapid economic expansion. Colombia is South America’s oldest democracy and third-largest economy. Find Out Data is a real-time snapshot *Data is delayed at least 15 minutes. Brazil is the largest and most populous nation in Latin America. Venezuela’s national struggles have spread, affecting the security and economies of its southern neighbors as uncertainty pertaining to the Brazilian elections have impacted … Argentina comes third with total exports amounting to 46.46 billion dollars. "And it could have more, as production hasn't even started yet and new discoveries are still being made. A current climate of political stability - with a few expectations - also helps secure South America's promising future. The economy of the South American continent represents the economy of the 12 nations and 3 territories of the continent housing a total population of about 410 million. Economic sectors Agriculture. "It will be a big challenge," she added, highlighting Guyana could struggle to cope with a "resource curse" in the long term.It is going to be "very difficult for Guyana not to be completely subsumed by the oil sector," Marcel said.Got a confidential news tip? GDP (Nominal) Country/Economy GDP (billions of $) Share in 2019 (%) Rank; 2018 2019 Change S. America World S. America World; Argentina: 519.487: 445.469-74.018 The continent’s economy is centered on the export of natural resource s. Climate and Agriculture. "Guyana is poised to start oil production next month — a prospect which analysts believe will be transformative for economic prosperity in South America's only English-speaking country.However, Hidalgo described the IMF's projection as "ambitious," noting it was probably the highest annual economic forecast the global crisis lender had ever predicted.That's because the country's government is technically interim until elections are held in March, meaning it is currently unable to pass a budget for 2020.In addition to a lack of regulatory legislation in the country, Hidalgo said the likelihood of project delays and non-payment in the infrastructure sector could also threaten the IMF's forecast.In comparison to the IMF's prediction that Guyana will register economic growth of 86% next year, IHS Markit believes political instability in the country makes it much more likely the country's economy will expand by about 30%.Earlier this year, the IMF described Guyana's medium-term prospects as "very favorable," citing plans for the country to start oil production next month. ""Dutch disease" refers to the negative consequences that can arise from a spike in the value of a nation's currency. For the latest World News and News from South America visit News.com.au Read the Latest South America News Headlines and Breaking South American News including news from Brazil, Argentina, Columbia. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. This can be explained by South America's high concentration on primary commodities as well as the state of the educational system and institutional structure, some of which are still related to its colonial past, others to recent political developments.It was only from the 1990s when countries in South America switched over to the system of In 2017, the economy has started to recover for the first time since 2014.