Del Bonilla made her comments in an interview with the newspaper Prensa Libre, following an announcement by the National Statistics Institute that reported an annual inflation rate of 13.56 percent in June, far above this year's goal of 5.5 percent plus or minus 1.5 percent.
"I believe that our economy, like other economies throughout the world, must adjust to the changes that are happening at the global level," she said.
This likely means tighter credit conditions in the future, despite concerns from the business community about the availability of credit.
Asked whether the current level of prime rate of 6.75 percent is likely to increase, Del Bonillo said, "I can't predict what the recommendation will be of the Execution Committee of the Monetary Board at its July 23 meeting, but they will probably recommend a gradual adjustment."

Source: prensalibre.com

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The current Superintendent of Banks of Guatemala, Edgar Barquin, will take over the presidency of the Central Bank of Guatemala on Friday.

Barquin is a CPA, auditor, attorney, notary and was one of the creators of Guatemala president Alavaro Colom´s economic plan. He will replace Maria Antonieta Del Cid de Bonilla.

Leader Rate Drops to 4.75% in Guatemala

July 2009

The central bank decided to lower in 0.5 basis points the leader interest rate, going from 5.25% to 4.75%.

'Some of the reasons for this decision are lower observed growth in inflation and lower inflation expectations' explained María Antonieta del Cid de Bonilla, Central Bank President.

Prime rate drops to 7% in Guatemala

January 2009

The Monetary Board reduced the prime interest rate by .025 percentage points.

Prensalibre.com reports: "The decision was due, among other things, to the drop in the oil and food prices, as well as the forecast of recession in the world's largest economies, according to explanations at a press conference yesterday afternoon by the president of the Bank of Guatemala, Maria Antonieta Del Cid de Bonilla."

Guatemala's interest rates rise; benchmark rate now is 7.25%

July 2008

Guatemala's Monetary Committee has raised the benchmark interest rate half a percentage point, from 6.75 to 7.25 percent.

It made the decision upon learning that the rate of inflation soared to 13.56 percent in June, well above the Central Bank's goal of 4 to 7 percent.
"The interest rate was at a level that we thought was low, and we don't want abrupt changes," said Central Bank President María Antonieta del Cid de Bonilla.