There are division and the debate is hot. The petition from the industrial sector to lower the main interest rate in order to reactivate the economy has its supporters and dissidents.
Representatives from the private sector believe that it is time to make an adjustment. Experts and professionals from Banquat say that inflationary pressure should be consider before acting out.
Industrial companies estimate that if the reference rate was to drop there would be an expansion of credit to the private sector, which on November 13 showed an interannual increase of 12.6%, way below the 28% for the same period in 2007.
Source: sigloxxi.com
More on this topic
September 2009
Key economic indicators show less economic deterioration than other countries of the region.
An article in Prensa Libre published comments by two Guatemalan economists, Mario Cuevas and Carlos González Arévalo. The former is president of the Center for Economic Investigations (CIEN), while the latter represents the Association for Social Studies and Investigations.
January 2009
The Monetary Board reduced the prime interest rate by .025 percentage points.
Prensalibre.com reports: "The decision was due, among other things, to the drop in the oil and food prices, as well as the forecast of recession in the world's largest economies, according to explanations at a press conference yesterday afternoon by the president of the Bank of Guatemala, Maria Antonieta Del Cid de Bonilla."
September 2008
Banking monetary and authorities in the country have ruled out a direct impact on Guatemala's economy.
Banking executives agree that the economic situation in the country is uncertain; nonetheless, they need to keep a close eye on what is happening in the American financial market.
September 2009
The Central Bank approved a reduction of 0.25 basis points in the leader rate, setting it in 4.5%.
The Private Enterprise was looking for a reduction of 0.50 basis points, arguing there is no inflationary pressures right now.
María Antonieta de Bonilla, President of the Central Bank of Guatemala (Banguat), commented that the reduction of the rate "...
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