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 Prensagrafica.com 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.

More on this topic

Costa Rica: Ratings Agencies Insist on Fiscal Adjustment

April 2015

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."

On average agencies provide a period of 12-18 months for the fiscal deficit and public debt to stabilize, while clarifying that "...

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.

According to an article in Elmundo.com.sv, "The forum called 'Are Public Finances sustainable?', brings together economists and two deputies from the Special Committee on Finance and Budget of the Legislative Assembly to discuss and present their proposals for solutions to the current fiscal situation.

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.

As noted by Aldesa, the central government deficit amounted to almost $ 1.970 million. The shortfall means 5.3% of the national GDP and a growth of 73% over the total deficit of 2009, according to preliminary data from the Ministry of Finance.

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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