Guatemala: First Review Under the Stand-By Arrangement and Requests for Modification of Performance Criterion and Consultation Clause: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guatemala

October 20, 2009

Preview Citation

Format: Chicago

Guatemala: First Review Under the Stand-By Arrangement and Requests for Modification of Performance Criterion and Consultation Clause: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guatemala, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

This paper discusses key findings of the First Review Under the Stand-By Arrangement for Guatemala. The fiscal deficit is increasing owing to a sharp decline in revenues, associated with the contraction in imports and domestic demand. The policy interest rate has been cut. All quantitative performance criteria through June have been met. Inflation has fallen below the consultation band set in the program, triggering a consultation with IMF staff. Fiscal policy needs to continue striking a balance between avoiding a procyclical stance and maintaining debt sustainability.

Subject: Banking, Economic sectors, Fiscal policy, Government debt management, Inflation, Prices, Private debt, Public debt, Public financial management (PFM), Public sector

Keywords: Authority, Banking sector resilience, Central America, CR, Economy, Financing strategy, Global, Government debt management, Government program, IDB portfolio, Inflation, ISCR, Monetary policy interest rate, Monetary policy stance, Public sector, Revenue-enhancing reform

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/305
Stock No:

1GTMEA2009002
ISBN:

9781451816686
ISSN:

1934-7685

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