IMF Staff Country Reports

Guatemala: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guatemala

May 24, 2023

Download PDF Order a Print Copy
Order a Print Copy

Preview Citation

Format: Chicago

Guatemala: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guatemala, (USA: International Monetary Fund, 2023) accessed October 26, 2024

Summary

Guatemala has weathered many crises well. Its ’s economy has proved resilient, building on a solid track-record of prudent policies—low fiscal deficits and debt-to-GDP ratio, and high international reserves—and strong remittance inflows. After a strong rebound in 2021, Guatemala’s economy has been slowing down—with GDP growth halving to a solid 4.1 percent in 2022. Inflation increased in 2022 but peaked in February 2023 (9.9 percent, year-on-year) to drop to 8.71 percent in March 2023. At the same time, public investment tends to be under-executed, poverty remains high, and tax revenue is weak, while substantial institutional, investment, and social gaps and governance weaknesses hinder progress. Addressing these requires higher broad-based and inclusive growth and further progress in the reform agenda. The authorities’ goal to attain investment grade and attract foreign investment could unlock opportunities. General elections are due June 25, 2023 (the second round on August 20, if needed).

Subject: Economic and financial statistics, Economic sectors, Fiscal policy, Government finance statistics, International organization, Monetary policy, Public debt, Public sector, Revenue administration

Keywords: Authorities' effort, Central America, Global, Government finance statistics, Guatemalan authorities, Guatemala's regime, Headline inflation, Inflation development, Public sector, Tax administration enforcement

Publication Details

  • Pages:

    102

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2023/172

  • Stock No:

    1GTMEA2023002

  • ISBN:

    9798400242939

  • ISSN:

    1934-7685

You May Also Be Interested In...

IMF

The Managing Director's Global Policy Agenda, Annual Meetings 2024: Secure A Soft Landing And Break From The Low Growth–High Debt Path

October 24, 2024

Development Committee: The Managing Director's Written Statement

October 22, 2024

2024 Review Of The Poverty Reduction And Growth Trust Facilities And Financing — Reform Proposals

October 21, 2024

Ukraine: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Applicability of Performance Criteria, Modification of Performance Criterion, Rephasing of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

October 18, 2024