Guatemalan Banks make it tougher to get credit

©image: www.banguat.gob.gt

This comes after two years during which their portfolios grew more by than 30%. "They need to be capitalized," Antonieta de Bonilla was reported as saying.
The Guatemalan economy is going through a slowdown as a result of the decrease in general consumer spending mainly due to the increase in the rate of inflation which by midyear had reached 7.54%. Even though the Bank of Guatemala decided to raise the interest rate to 7.25% as a corrective measure, this on the other hand represents further restrictions on consumer spending.

Source: americaeconomica.com

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