Interest rates increased in Guatemala

According to Banguat, the increases in 2008 in the interest rates were due mainly to uncertainty in the banking sector.

Wednesday, January 21, 2009 reports on its website: "Adverse conditions, lack of liquidity (money) and the intention of the banks to protect themselves by lending less, caused interest rates to increase in 2008, according to explanations from the president of the Central Bank, Maria Antonieta del Cid de Bonilla.

"This behavior is linked more to the international financial markets and the global economy," she said, after waiting five hours for the Legislature to present the annual report, which occurred because some lawmakers broke the quorum."

More on this topic

New President at Banguat

September 2010

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. 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 Monetary Committe leaves rates unchanged

June 2008

Guatemala's Monteary Committe kept the leading seven-day interest rate at 6.75 percent. the rate is one of the government's tools to control prices.

Maria Antonieta Del Cid de Bonilla, present of the Bank of Guatemala (Banguat) and of the Monteray Committee, said during a press conference that the decision was made unanimously.

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