Guatemala: Recent Economic Developments

International Monetary Fund

No 1998/071, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Guatemala during 1990–97. During 1992–97, Guatemala’s economic performance strengthened, with growth rates averaging 4 percent helped by declining inflation, progress in trade and financial reform, and favorable terms of trade. Efforts to improve fiscal and credit policies contributed to reducing the external current account deficit and strengthening the net international reserve position. The authorities succeeded in bringing the combined public sector position to balance in 1995–96. The tax effort was raised from less than 7 percent of GDP in 1994 to 8.7 percent of GDP in 1996.

Keywords: ISCR; CR; U.S. dollar; unit price; financial system; short-term debt; public finance; debt service; export earnings; terms of trade; Public sector; Exports; Imports; Reserve requirements; Central America (search for similar items in EconPapers)
Pages: 116
Date: 1998-09-04
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