Incoming Capital Diminishes by 78% in Guatemala
In the first quarter, incoming net private capital (loans and investments) was $149.7 million, compared to $699.3 million for the same period in 2008.
Monday, April 13, 2009
According to information published by the Bank of Guatemala, the area that reported the greatest reduction was loans, which diminished by 63.26%.
The National Center for Economic Investigation (CIEN) is opposed to an increase in minimum wages for 2009, just as the private sector has expressed, and has presented other long term alternatives.
Warnings are being issued of a possible rise in the cost of credit if the government finances its spending with bonds issued in the local market.
After two months showing a downward trend, remittances in March totaled $344.1 million, up 22% over the same period in 2008.
Scheduled investment for 2010 sums $434 million, 39% less than the $714 million earmarked for 2009.
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