Guatemala is Progressing in Economic Policy

The IMF released a statement with the conclusions of its working visit to the country.

by Pamela Contreras

Guatemala City, by Yuliza Muñoz -AGN- The International Monetary Fund -IMF- issued a statement on an official staff visit to Guatemala. The purpose of the visit, from February 28 to March 13, highlighted the evolution of 2022 fiscal results. It also established the forecasts for this year.

According to the document, the visit occurred in  the context of the Article IV consultations of the IMF’s Articles of Agreement. In addition, it concluded with a statement presentation mentioning the commitment to continue building on the progress achieved in economic policy.

The statement reads, “Addressing gaps in infrastructure, education, and health, improving governance, and the fight against corruption remains of the first order. Reforms are not only needed to attract foreign direct investment but to secure sustainable and inclusive growth.”

Furthermore, it mentions  that Guatemala has made significant progress in reinvigorating opportunities for the private sector. The country must  continue creating spaces for better,  more equitable, and sustainable growth.

Visit conclusions

The IMF described the preliminary conclusions by the staff in a final statement.

In these, they  mentioned that Guatemala’s prudent macroeconomic policies have helped to protect the economy from the global economic slowdown.

The mission proposed a combination of technical measures related to the operational framework for monetary policy rates. The purpose is to support the efforts of the Bank of Guatemala.

The statement ends, “The mission would like to thank the Guatemalan authorities for their cooperation and frank discussions throughout our visit.”

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