Don't be greedy, Guatemalan minister tells business leaders

Rómulo Caballeros, the Guatemalan economy minister, called on the nation's businessmen to keep inflation under control by moderating their profit margins.

Friday, May 30, 2008

Caballeros said that consumers were bearing the brunt of increases in prices that were caused by inefficient production. Businesses that raise their profit margins without doing the same for productivity will further reduce demand, he added.
The minister said Guatemala urgently needs laws on consumer protection and competition.

More on this topic

Labor Supply Grows While Demand Drops

March 2009

In Guatemala, employment is decreasing while the number of job seekers is increasing.

La Prensa Libre of Guatemala published recent data on the labor market in an article.

According to the consultancy firm Manpower, hiring for the second quarter is expected to be -1, meaning that more jobs will be lost than those that are created, and job requests have increased between 45% and 50% when compared to the same period in 2008.

Regional plan prepared to deal with crisis

November 2008

Ministers of the Economy and Foreign Trade from Central America prepared a plan to jointly deal with the impact of the economic recession that will occur in 2009 in the region.

The adopted measures will be used to jointly mitigate the negative effects.

"The coordination instruments will be announced by the presidents at the meeting which will be held on December 5 in Tegucigalpa, Honduras," reported Romulo Caballeros, Guatemalan minister of Economy

At the heart of the Salvadoran crisis.

August 2008

After the dollarization of the economy, the cost of living grew as expensive as in Boston, in London, or in Moscow, with the exception that chaos, violence and lack of services rein here.

The crisis in El Salvador started before the rise the price of oil and world food.
Armando Flores, director of the Consumer Defense Committee (CDC), analyzes the situation on the ground in El Salvador.

SOS for Nicaragua

July 2008

While officials from the IMF were announcing that Nicaragua is "among the countries at the point of going down because of high oil and food prices," the economy was feeling the consequences of another inflationary spiral, says Oliver Gómez in the Managua daily El Nuevo Diario.

It increased electricity rates, changed the way it did its billing, and the first effects are being felt today with the new costs of the basic basket of consumer goods, he continues.

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Asociación Guatemalteca de Exportadores -AGEXPORT-

The Guatemalan Exporters Association is a private non-profit entity, established in 1982; that represents, promotes and develops non traditional exports of Guatemalan companies.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Guatemala
Phone: (502) 2422-3400

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