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.
Elperiodico.com.gt reports: "If Congress authorizes for the next fiscal period the issuance of $1.282 billion in bonds to finance public spending, as the executive branch plans, credit to the private sector could be affected ... ".
If Congress does not approve loans which enable funding of the state budget, the crisis could be severe.
Roberto Villate, head of the Lider back bench group, said that as a block, they do not support the loan approval because from the beginning they did not agree to an underfunded budget and one without any programatic basis. The official said that with each loan "the country takes one more step in the direction of Greece or Cyprus".
In the first 5 months of 2012 the export of raw tobacco from Guatemala reached only 6% of the $50 million made from in exports during 2011.
According to Carlos Martinez, an analyst at the Institute of National Problems at the University of San Carlos (Ipnusac), this is partly due to a contraction of demand resulting from the global crisis.
Panamá Pacífico with thousands of interested visitors to its stand in Expocomer 2010, not only offered the Key Note speech of thursday, but launched the residential phase of this great development on the banks of the Panama Canal