Guatemala to receive $400 million loan
Guatemala will get a loan from the IDB to improve tax collection, the multilateral organization indicated yesterday.
Wednesday, August 13, 2008
These funds will be used to finance a program that will create a more stable macroeconomic policy and improve the administration and collection of taxes in Guatemala, the IDB explained.
A $40.5 million loan will prevent deterioration of fiscal situation due to the global recession.
Tax revenues in relation to GDP increased in the Central American countries with the exceptions of Guatemala, where it fell, and Costa Rica, where it did not change.
In the first six months of the year the total raised was $2,778 million, 20% higher than the $2,316 million collected in the same period in 2010.
The IDB will provide an $8.5 million loan for a project that seeks to increase efficiency and promote transparency in the Ministry of Finance.
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