Private Lending Slows in Guatemala
Credit to the private sector grew by 11.2% in January, a lower growth than for the same period last year when the increase was 26.4%.
Monday, March 2, 2009
Reporter Jessica Gramajo wrote in the SigloXXI website: "Data from the Bank of Guatemala (Banguat) reported that in January of this year the banking system maintained a loan portfolio of $10.901 million (Q 87.240,8 million). Although it is higher than the $9.816 million (Q78.559,4 million) during the same month in 2008, the growth rate was lower."
In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.
Up to and including April 9, the total growth (including loans in local and foreign currency) was 8.3%, the lowest in the last two years.
The IFC announced the addition of the Bank to the Global Foreign Trade Finance Program (GTFP).
The bank, notable for its A + rating awarded by Fitch Ratings, focuses on loans for the corporate sector and hopes to expand its credit portfolio thanks to the injection of funds.
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