Guatemala: Corruption Scandals Dampen Outlook

CENTRAL AMERICA - Report 31 Aug 2015 by Francisco de Paula Gutiérrez and Felix Delgado
Executive Summary Political developments linked to Guatemala’s corruption scandals have dampened the national economic outlook. But the turmoil has not so far damaged financial stability, which been powerfully resilient.The dollar is stable in the 7.60-7.70 quetzal range; the Bank of Guatemala’s net international reserve position was $7.55 billion as of August 27th; and domestic interest rates continued relatively stable. Domestic credit and total liquidity increased during H1, but remain reasonable:credit to the private sector grew 11.3% y/y, and M2 assets were up 11.6% y/y at the end of J...

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