Guatemala: Companies Acquire More Loans Abroad

In the first half of the year, international banks placed 15% more loans in Guatemala than in the same period of 2009.

Friday, July 2, 2010

In total, Guatemalan companies negotiated $569.7 million in loans between January 1st and June 17, motivated by low international interest rates.

Edgar Barquín, Banking Superintendence, explained that foreign banks, mostly from the U.S. and South America, are looking for customers in the country, due to lower interest rates abroad”, reported Prensalibre.com.



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El Salvador Loses Access to IMF funds

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Guatemala: Preference for Foreign Credit

September 2011

Companies are choose to seek financing in foreign banks, because they offer lower rates.

The Bank of Guatemala (Banguat) has revealed that domestic banks have lost their appeal compared to credit lines offered by foreign banks.

There seems to be a greater interest by Guatemalan companies in negotiating foreign loans, according to Banguat’s figures regarding transfers abroad for paying interest and capital repayments.

Guatemalan Banks Renegotiate 70% of Foreign Credits

February 2009

70% of the Foreign credit lines in the Guatemalan Banking System were renegotiated under new conditions.

In an article published in sigloxxi.com, Édgar Barquín, the Superintendent of Banks, explained that banks "have been able to defer or restructure them [the credit lines] to maintain the financing used by local banks in productive sector loans" and that the country "has been fortunate in the way correspondent banks have responded."

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