Guatemalan banks are now allowed to invest in securities issued by private domestic firms in the foreign market.
The Monetary Board (JM) has approved an amendment to an article of the Regulations of the Law on Banks and Financial Groups, allowing banks to invest in corporate bonds that are issued by national companies and which are traded in foreign markets.
Up until the end of September banks provided loans worth $15.356 billion, $2.226 billion more than in the same period in 2012.
This was revealed by data published by the Superintendency of Banks (SIB). "The information relates to loans to large businesses which make up 54,02% of the total with $8.295 billion, while the microcredit sector has the lowest share with 2.41% participation, equivalent to $369 million," reported Prensalibre.com.
Between July 2011 and July 2012, Guatemala created 29,494 jobs, figure that dropped to 19,437 between 2012 and 2013.
The Association for Research and Social Studies (ASIES) has presented the results of the 57 Enterprise Survey, which measures perceptions of employers in the metropolitan area regarding the main economic variables which influenced its activities up to July 2013.
A price war and the entry of new brands, especially beer, have added dynamism to the sector.
"During the period 2011-12 companies launched onto the market products such as Budweiser presented by the company AmBev CentroAmerica, as well as other mixtures made by Cervecería Centro Americana", reported Prensalibre.com.
The announced opening of a sales office in China is being urged by the business sector, which believes that the current policy to the second largest economy in the world is unsustainable.
Carlos Gonzalez, an analyst at the Association for Research and Social Studies (ASIES) believes that there is a delay on the part of Guatemala in trade between the two nations, because China has invaded the national market and it is necessary to have a presence in that large country.
The current amount would pay the country’s entire national debt.
The country's strong economic performance, the increase in remittances and a rise of almost 20% in exports has allowed the growth of international reserves, an important macroeconomic indicator which measures the country's payment capacity.
Key economic indicators show less economic deterioration than other countries of the region.
An article in Prensa Libre published comments by two Guatemalan economists, Mario Cuevas and Carlos González Arévalo. The former is president of the Center for Economic Investigations (CIEN), while the latter represents the Association for Social Studies and Investigations.
A study conducted for the tourism industry projected a decline of 1 to 2% in visitors in 2009.
Within the results of the VIII Tourism Sector Survey conducted by the Association for Research and Social Studies, 92% of respondents indicated that they would not increase the number of rooms.
The website Sigloxxi.com indicated that the study was "conducted at 259 hotels throughout the country [of Guatemala], last February and it mentioned that the percentage of occupied rooms decreased from 53% in 2007 to 43% the following year.”
The Association for Investigation and Social Studies (ASIES) carried out a moderate study of the local economy.
ASIES analyst, Carlos Gonzalez, pointed out that the unfavorable external climate resulting from the financial crisis, and the high price of oil and food - that started in 2006 and worsened in 2007, began to affect production activities during first semester of this year.