UNDP: "Guatemala's economic model failed"

The country's 2007-2008 Human Development Report will be presented today by the United Nations Development Program (UNDP).

Tuesday, November 11, 2008


Slight economic growth in the country between 1980 and 2007 and unresolved social problems involving inequality and poverty "demonstrate how the Guatemalan economic model has failed", the Report states.

The document further indicates that the country has had economic growth levels below average world and regional figures of 2.7 percent between 1980 and 2007, According to the study "they will require 27 years to double their Gross National Product (GNP)"

However, the country continues to be the largest economy in the region, although when the GNP is calculated by person (US$2 thousand 250); it is lower than Costa Rica (US$4 thousand 980) and El Salvador (US$2 thousand 680).

The Guatemalan economic model adopted back in the 1980's sought greater growth and a spillover of wealth by deregulating markets, reducing the size of government and its participation in the economy, as well as...

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