Guatemala to Issue $225 Million in public debt

The government asked Congress to increase public debt by $225 million to finance the budget.

Thursday, April 2, 2009

Currently, the Executive Branch may issue up to $171 million. If the increase is approved, the number would reach $394 million.

The measure is due to the expectation of an "unprecedented reduction in revenue, up to Q4 billion ($494 million,) due to the global economic crisis," said Juan Alberto Fuentes Knight, Minister of Finance, in an article in sigloxxi.com

The article also indicated that the Government plans to make transfers between portfolios to readjust the budget with Health being the most affected, giving up $46 million and Communications $28 million. Those that will have more are Pro Rural with $50 million and the Army, Ministry of Foreign Affairs and the Mi Familia Progresa (Progress for my Family) program.

More on this topic

Guatemala to Issue Bonds for $110 million

December 2014

On December 12th the Ministry of Finance expects to place in the domestic market the remaining 30% of the issue approved in order to finance the 2015 budget.

70% of the treasury bonds that Congress passed have already been awarded, and on December 12th it is expect that the remaining 30%, ie $110 million will be auctioned in the local market.

Increase in Honduras' External Debt

September 2013

In July 2013 foreign debt reached $5.5574 billion, $713.4 million more than what was owed in December 2012.

From a report on external debt of the public and private sectors published by the Central Bank of Honduras:

External debt of the public and private sector published July 2013.

El Salvador: Public Debt Accelerates

July 2011

The speed with which debt is growing is threatening future ability to pay.

Between January and May alone, the country's debt grew at a rate of $6 million per day, which is setting off serious alarm bells, because if growth continues at this pace, the country could face difficulties in meeting obligations in the future.

Banguat Approves Bond Issue for $223 million

April 2009

The Monetary Board of the Bank of Guatemala approved the issuance of treasury bonds for $223 million.

The international economic crisis is having a strong impact on the finances of the Guatemalan state, which saw revenue fall by 7.6% in the first quarter of 2009 and this translated to $85 million less in tax income. This was the main argument presented by the Monetary Board to approve the issuance of treasury bonds.

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