Detections have been made of cash transfers which are then returned via wire transfers and which apparently are linked to drug dealing and extortion.
The information was confirmed by the president of the Bank of Guatemala, Edgar Barquín, who explained that from Guatemala cash is exiting in dollars and going to El Salvador and then returning to the country through wire transfers.
Fiscal reforms and the lack of resources for public investment have generated great uncertainty in the sector, coming at the same time as a shrinking of construction projects for housing and public infrastructure.
This was despite the Bank of Guatemala (Banguat) having forecasted growth of 7.7%. The tax reform package passed last year by Congress includes measures affecting property development. "There is little certainty of how payments must be made," said Llerena Pelayo, president of the National Association of Home Builders (Anacovi).