Central American Institute of Fiscal Studies
in Central America
Monday, March 26, 2012
Crime and violence associated with drug trafficking brings with it overwhelming economic costs, estimated at about 8% of GDP.
In this illegal activity, that in the 90's was centered in the Caribbean but has migrated to Central America, cartels move about 300 tons of cocaine to North America, valued at $38 billion.
According to the National Civil Police, between 2008 and 2011 40,000 murders were committed in the country, of which a high percentage are related to drug trafficking.
Monday, October 31, 2011
Experts agree Alvaro Colom’s successor will face a difficult fiscal, economic and political situation.
First, it will be difficult to achieve the tax reform needed to tackle the decline in tax revenues which is set to continue into 2012.
Friday, July 22, 2011
The opening of the Desing Center corporate office buildings whose investment is $26 million, adds to the growing collection of new office centers in Zone 10 in Guatemala City.
The new center joins the 30 existing buildings and with them others whose construction is nearing completion, as is the case of the Sixtino II Building, the Interamerican Business Center, the Dubai Center and the Banco Industrial’s Tower 3 in Zone 4.
Wednesday, July 20, 2011
Turning Panama into the Singapore of America requires improving education and strengthening institutional infrastructure, not just physical infrastructure.
As outlined in an article in Radiolaprimerisima.com, "Thus says the president of the Economists Association of Panama, Raul Moreira, who asserts that in both senses, the country has far to go to reach the level of Singapore", noting in particular the poor quality of its education system and lack of transparency in public institutions.
Wednesday, April 13, 2011
The reason given is that, "political conditions are not right for presenting the tax reforms to congress".
Guatemalan president, Álvaro Colom, had announced that he would present a fiscal reform bill in the first quarter of this year.
Monday, June 7, 2010
Central American countries alleviated much of the effects of the global crisis by issuing public debt; they now face the challenge of keeping it at reasonable levels.
Capitales.com analyzed the relation between debt and GDP for each country in Central America. They noted that although Costa Rica, Guatemala and Honduras are within acceptable levels, they are dangerously close to surpassing them.
Wednesday, April 21, 2010
The Government risks failing to comply with the current Stand-By Agreement with the International Monetary Fund, as its fiscal deficit would reach 3.9%.
However, Fernando Delgado, IMF representative for Guatemala, stated that “if the Government provides strong reasons for increasing the deficit, the Fund could maintain the Stand-By Agreement”.
Tuesday, November 3, 2009
The Government could raise the Income Tax (IDS) to 6% and the Solidarity Tax (ISO) to 2%.
The proposal is being analyzed by a group of presidential advisers and the Ministry of Public Finances.
Thursday, June 25, 2009
Guatemala´s BB+ sovereign risk rating and stable perspective, which is so close to the desired “Investment Grade,” is facing four threats.
According to an article by C.Véliz and J. Gramajo in Sigloxxi.com, Mauricio Choussy, the director of Fitch Central America, notes that four weaknesses persist in the country: “Low tax revenue, weak social indicators, social instability, and high levels of delinquency.”
Wednesday, February 11, 2009
No matter who wins the elections, the country will need to resort to international loans to face the crisis.
The Central American Institute of Fiscal Studies (Icefi), will elaborate an analysis of the consequences of the financial crisis in the region, focusing on 4 of the main ways for the crisis to spread: remittances, commerce, tourism and foreign direct investment.
Wednesday, June 25, 2008
The extended exemptions from paying taxes in Guatemala haven't been effective for attracting foreign direct investment (FDI).
The 11 billion quetzales (about 1.458 billion dollars) in tax revenues that the government has decided to forego have not achieved the goal of attracting more capital.
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