IMF Staff Country Reports

Guatemala : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Guatemala

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

June 11, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Guatemala has enjoyed a prolonged period of macroeconomic stability underpinned by prudent fiscal management and a credible monetary policy. Despite strong fundamentals, Guatemala’s social and economic model has proved vulnerable to the COVID-19 outbreak. Limited healthcare coverage, especially of the poor and rural populations, pose a substantial challenge to contain the spread of the virus. Amidst plummeting remittances and essential containment measures, growth prospects have deteriorated markedly, creating large fiscal and external financing needs. Risks to the outlook are firmly tilted to the downside.

Series:

Country Report No. 2020/201

Subject:

Economic models External sector Financial systems Flexible exchange rates Monetary policy Rapid Financing Instrument (RFI)