Guatemala: No Fiscal Reform in 2010

The government will not insist on the approval of tax reform this year due to the current fiscal defecit.

Thursday, July 29, 2010

Édgar Balselles, recently appointed Minister for Public Finances, announced the decision.

La reports comments from the Minister: "We plan to have a well developed proposal with short, medium and long term measures ready for 2011".

The country has one of the lowest rates of tax collection in Latin America.

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Fitch, Moody's and Standard & Poor's are once again warning of the need to generate more revenue and cut public spending in order to avoid "negative consequences for ratings."

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Fiscal Crisis in El Salvador

October 2012

Academics and politicians are proposing an intersectoral agreement from which comprehensive tax reforms can arise in order to make public finances sustainable.

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Costa Rica Fiscal Deficit Would Reach 10% in 2016

February 2011

Costa Rica forecasts a 10% deficit in 2016 - more than $ 4.000 million – if the current trend continues without a reform.

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IMF urges fiscal reform in Guatemala

May 2010

The International Monetary Fund's recommendations focus on curbing the fiscal deficit and increase government income via taxation.

A staff team from the International Monetary Fund (IMF) visited Guatemala during April 27-May 6, 2010 to conduct the third review of the Stand-By Arrangement (SBA) approved in April 2009 (see Press Release No.

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