Guatemalan Private Sector Rejects Loans for Aircraft

Representatives from chambers of commerce and from the Monetary Board have rejected contracts for 2 loans for $166 million for the purchase of aircraft.

Monday, September 26, 2011

Applications for loans of $133 million to the National Bank of Economic and Social Development of Brazil (BNDES) for the purchase of 6 Embraer aircraft and $33 million for the purchase of radars with Banco Bilbao Vizcaya Argentaria (BBVA) of Spain are intended to finance a project submitted by the Ministry of Defense.

Tulio Garcia, alternate delegate from the private sector told the Monetary Board (JM) "that the private sector's main concern is the rapid growth of public debt and the conditions under which the aircraft are acquired.

The country is reaching levels considered critical regarding the amount of debt it currently has, said the employer when also rejecting the conditions under which banks would make the disbursements " reported Lorena Alvarez in her article for Elperiodico.com.gt

Congress now has the last word, and must either reject or approve the loans.



More on this topic

Guatemala to Buy Radars From Indra

November 2013

President Otto Perez has said that although they have ruled out the option of buying fighter jets from Brazil they will carry on with the process to acquire three radars and a control center.

The government has withdrawn from the purchase of 6 Super Tucano aircraft because of an overvaluation of $18 million, however, "we are looking at how we can save the purchase of radars and a control center," said Perez.

Honduras Considers Fighter Plane Purchase

June 2011

The country is looking at buying Embraer EMB 314 Super Tucano planes to use in the battle against drug trafficking.

President Porfirio Lobo met with the head of the International Security Cabinet of Brazil, José Elito Siqueriam to discuss the issue.

Digital Process reported, "During the meeting they also discussed the commitment of President Rousseff ‘s government’s to collaborate with the Lobo Sosa administration in logistical support and training the police to combat crime and criminality. "

Panama: $ 20 Million to Fight Drug Trafficking

February 2011

The Government will invest in the purchase of four unmanned aircraft to combat drug trafficking.

The purchase includes training of personnel who will operate the aircraft in Panama, said the Vice Minister of Public Security, Alejandro Garuz.

"The government is interested in these devices after the United States carried out test flights in Panama in 2010 as part of a cooperative security program," Prensalibre.com reports.

Combat Aircraft and Radars for $99 Million

June 2009

Brazil gave Guatemala a 12-year loan for the purchase of six Super Tucano Embraer aircraft and radars from Taiwan.

The Brazilian Export Bank confirmed the loan during the Brazilian President’s visit to Guatemala.

The credit will be applied toward the purchase of an aerial surveillance system and aerial interception in which the fighters are linked to a radar and satellite information system to help combat drug trafficking.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Gluten-free food business for sale

Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand.
The OHNE brand has 8 product lines: square bread, sweet...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 20)
Brent Crude Oil
55.600
Coffee "C"
127.35
Gold
1,871
Silver
25.745