The Bank of Guatemala Presented the Country’s Economic Progress

Banguat held a press conference to share the country's economic projections.

by Astrid Luna
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Guatemala City, by Yulisa Muñoz -AGN- The Bank of Guatemala -Banguat- reported on the work conducted during the transition meeting with the elected authorities.

President of Banguat, Álvaro González Ricci, shared the actions and the estimate for the 2023 closing and the estimate for the year 2024.

He mentioned, “The importance of this press conference is to make this presentation as we did to the transition team of the elected authorities so that the public can be informed.”

Topics 

President Ricci, with the Monetary Board Vice President Alfredo Blanco and Economic Manager Johny Gramajo, discussed the closing estimate for 2023 and the economic outlook for 2024.

Also discussed was the risk rating for Guatemala granted by international entities. In this sense, the gross domestic product growth -GDP- which reached 3.5% in 2023, was discussed. The stability of the general price level, monetary policy decisions, and exchange rate stability were also underscored.

Regarding the foreign exchange income from family remittances, the authorities of Banguat mentioned that it is expected to close this year at USD 21 billion. From January to date, there is an accumulated amount of over USD 16 billion. Banguat emphasizes that November and December have a substantial impact, thus the estimate for the year’s closing.

Subsequently, Banguat authorities discussed international monetary remittances, growth in exports and imports, and foreign direct investment.

Sector meeting

On October 23, the authorities of Banguat met with the team assigned by the elected representatives to discuss the country’s economic situation, macroeconomic indicators, and the national strategy for financial inclusion.

The Organization of American States ambassador, Diego Paz, attended the meeting. and the Minister of Labor and Social Welfare, Rafael Rodríguez, represented the Government Transition Commission.

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