Guatemala City, by Veylin Herrera -AGN- Guatemala improved its credit risk rating, with a stable economy region classfification.
The country was upgraded from BB- to BB, reflecting a positive tax and economic recovery after the impact of global conflicts.
Standard and Poor’s Global Ratings was responsible for the corresponding research to determine Guatemala’s ranking. The agency underscored that the improvement is due to Guatemala´s economic resilience and long-standing macroeconomic sustainability.
As a result, this achievement positively impacts the country, allowing the development and attraction of new opportunities. It also underscores the advantages of investing in the most competitive destination in the region.
This rating increases the country’s international prestige and emphasizes solid macroeconomic, financial stability and the Government of Guatemala’s commitment to economic sustainability and improvement.
The country has been rated by three of the most important agencies worldwide. These have agreed that the region has managed to maintain its development and has reflected the decreasing inflationary trend.
Fitch Ratings, Moody’s, and Standard & Poor’s have positioned Guatemala as positive and stable, being the only country in the region with this achievement. Standard & Poor’s rating highlighted that Guatemala’s external position should continue to be a strong rating for the following years.
Recently, the Bank of Guatemala -Banguat- also indicated that the country had shown a decrease in inflation, expected to reach 5% by the end of 2023.