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.
The goal is to achieve greater equality in the taxes to be paid by citizens and business, and to improve the transparency in government spending.

More on this topic

Revenue Statistics in Central America

January 2014

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.

A report entitled "Tax Statistics" prepared by the Organization for Economic Cooperation and Development (OECD), analyzes the behavior of tax collection in Latin America.

Guatemala: 20% Rise in Tax Collections

July 2011

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.

According to the Tax Authority, revenue from Value Added Tax (VAT) on imports registered an increase of 18.5%, while domestic VAT revenue increased 21.45%.

Nicaragua will improve tax collection and improve social spending with IDB assistance

December 2009

A $40.5 million loan will prevent deterioration of fiscal situation due to the global recession.

The Inter-American Development Bank approved a $40.5 million loan to that will provide budget support for Nicaragua and help finance measures that will increase revenue collection and efficiency and transparency of budget execution.

Loan to improve government management in Guatemala

November 2008

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.

The program will focus on improving the internal process of the Ministry and to seek responsibility for government spending.

The objective of the IDB is to help the ministry become an more modern and effective institution, the bank said in a release.

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