IMF Staff Country Reports

Guatemala: 2024 Article IV Consultation-Press Release; and Staff Report

August 5, 2024

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Format: Chicago

International Monetary Fund. Western Hemisphere Dept. "Guatemala: 2024 Article IV Consultation-Press Release; and Staff Report", IMF Staff Country Reports 2024, 266 (2024), accessed November 21, 2024, https://0-doi-org.library.svsu.edu/10.5089/9798400287398.002

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Summary

The 2024 Article IV Consultation discusses that Guatemala has continued to maintain its solid track record of macroeconomic policies, with economic growth moderating to an estimated 3.5 percent in 2023 and consumer price index inflation and inflationary pressures decelerating from a 9.9 percent peak year-on-year in February 2023 to 3.6 percent in June 2024, within the monetary policy target. The Guatemalan economy continues to show stability and soundness thanks to a legacy of prudent monetary and fiscal policies. The country's outlook remains favorable, with risks skewed to the downside. With hefty investment needs, Guatemala will need to boost revenue while bolstering the quantity and quality of spending. Higher growth and absorption of capital flows into the country requires gradual strengthening of the monetary and exchange rate policy frameworks. An inclusive and sound financial sector guided by prudential principles should further support Guatemala’s economic development efforts.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Central bank policy rate, Crime, Financial services, Public debt, Revenue administration, Tax collection

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Central America, Central bank policy rate, Financial institutions buy, FX intervention, FX participation rule band, Global, Reference exchange rate, Reform agenda, Tax collection

Publication Details

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