The Central Bank has presented its analysis of the recent performance of the economy and its arguments for maintaining the leading rate at 5%.
From a report by the Banguat:
"The performance of economic activity remains consistent with the annual estimates of GDP growth (3.2% -3.6%), which is reflected in the dynamism of some short-term indicators such as quarterly GDP, IMAE, means of payment, bank credit to the private sector, the volume of imports and exports and remittances. "
Price of gallon of regular gasoline: Panama $3.02, Guatemala $2.73, El Salvador $2.75, Honduras $3.19, Nicaragua $3.35, and Costa Rica, $3.75.
From a statement issued by the Ministry of Economy of El Salvador:
Reference prices have been pushed upward due to OPEC's announcement of a cut in production, which according to international news is the first agreement of its kind in eight years, a pact that will take place when they meet in November at their headquarters in Vienna; it is also expected that Russia and other major producers will be incorporated into the measure; Added to this is the fall in US inventories over the last five weeks causing it to become unpredictable, supported by Hurricane Matthew on US shores as it was feared that this storm would disrupt oil imports and its derivatives and possibly cause fuel shortages, as oil is a financial asset which is volatile and sensitive to global changes that directly affect it.
DirectTV will broadcast news, entertainment and sports from Central America in the US via Telecentro.
Telecentro will also be transmitted in the US by the DirectTV More bilingual service and includes news, entertainment and sports from the main channels in El Salvador, Guatemala, Honduras, Costa Rica, Nicaragua and Panama.
Between January and July 2012, car dealerships in Guatemala sold 15.410 units, up 12% compared to sales in the same period in 2011.
According to the Association of Importers and Distributors of Motor Vehicles (AIDVA), in 2010 19.426 units were sold, whereas in 2011 the figure went up to 23.524.
"Among the positive factors in the automotive industry what stands out is sufficient liquidity in the financial system and the low interest rates offered by banks, ranking below 10 percent. In addition, it is also believed that the business has been favored by the country's higher economic growth ", added revistaindustria.com.
Last year, in 2011, sales totaled 23,524 vehicles, 20% more than the 19,456 units sold in 2010.
Of the units sold, 6015 were sports utility vehicles (SUV), followed by pickup trucks with 5751 and sedans with 4315 sales.
"Diego Velasquez, Brand Manager of Advance Auto at the Cofiño Stahl Group, said that 2011 was the first time that sales of SUVs and pickup trucks displaced those of sedans which had always been the favorite of Guatemalan buyers.
Chinese car dealers are betting on price and quality as strategies to increase their participation in the Guatemalan market.
New models have been presented by the brand Wuling, Jinbei and Chana.
"The Veins brand manager, Otto Palma, said that Chinese vehicle quality has improved due to customer demand. "In particular, the fact that Wuling is partners with GM and Jinbei with Toyota and BMW, means we have access to the latest technology, enabling us to offer a guarantee of 50,000 km or equivalent to 2 years, on these lines of vehicles.", reported Siglo21.com.gt.
Import of new vehicles has not recovered after declining by almost 50% last year.
Data from the Superintendence of Tax Administration (SAT) show that between January and September 2010, 12.660 new cars were imported. In the same period of 2009 the total was 12,781 units, while in 2008 the number was 21.496 units.
Venezuela has rejected the proposals offered by Guatemala for working within Petrocaribe.
Guatemala's Minister of Energy and Mines, Carlos Meany, told local news media that the Venezuelan Government did not accept the proposal under which they would provide 30,000 barrels of oil per day to Guatemala to cover 40 percent of local consumption.
The Government of Guatemala consulted its Salvadoran homologous for blocking Guatemalan pork.
Rubén Morales, Economy minister, explained they "will study this measure and consult the Salvadoran Government on this situation".
"Apogua, the Association of Pork Producers of Guatemala, denounced that El Salvador is blocking the entrance of pork, even though the World Organization for Animal Health certified Guatemala as free from pork flu on October 8th", reported Google News.
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