Credit for Private Sector Drops to 8.3% in Guatemala

©image: Daniel Borman

Despite measures taken by monetary authorities to keep the money market liquid in order to stimulate credit, financing to companies has not reactivated. Directors of the Industrial Bank and G&T Continental state that they are receiving up to 20% fewer loan requests.

SigloXXI.com reported in an article that "the executive director of G&T Continental, Federico Linares, agrees with the general manager of the Industrial Bank, Luis Lara, noting that the banking system has become cautious and strict with credit lines, but he says that this decline in lending is due to a seasonality that has been evident in recent years and that it manifests itself in the first four months of the year. However, he did not detail the reasons that mark this trend."

Source: sigloxxi.com

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