Urgency to Finance $375 Million of Guatemala's Budgets

The government urged the Assembly to approve the sale of $375 million in treasury bonds in order to fulfill its commitments.

Monday, July 6, 2009

The government needs these resources to amortize external debt, pay for approved construction projects, and finance the issuance of a new identification document in use since July 1st, according to the Guatemalan Minister of Finance (Treasury), Alberto Fuentes Knight.

Panama America publishes declarations from the minister on its website: "It is urgent to approve the sale of the national treasury bonds, it is the only way that we will have what we need to fulfill our commitments."

More on this topic

Panama Approves 2016 State Budget

November 2015

40% of the $20 billion approved by the Legislature for the next year's budget will be allocated to investments.

Bill 225, which dictates the general state budget for fiscal year 2016, amounting to 20 thousand 106 million balboas, was approved on its third reading by the plenary of the National Assembly.

Guatemala Approves Budget of $8.52 billion

October 2012

The General Budget for Revenues and Expenditures for fiscal year 2013 has been approved by the Congress of Guatemala through an express approval.

The law provides for tax revenues of $6.42 billion, placement of treasury bonds for $689 million, external borrowing of $932 million and $463 million in non-tax revenues and grants.

Guatemala: 2011 Budget is $6.55 Billion

August 2010

The Ministry of Finance will send Congress its 2011 state budget in the next two weeks.

According to Édgar Balsells, Guatemalan Finance Minister, tax and non-tax revenues are forecast to be $4.96 billion, higher than the $4.23 billion predicted for this year.

In order to increase revenues, Balsells explains to Siglo Veintiuno that, "part of the plan is for the national Tax Revenue Authority (SAT) to 'toughen controls' but it also takes into account the impact of the anti-evasion law, currently pending approval by Congress".

Guatemala To Face 2010 With a 2009 Budget

December 2009

Guatemala's public finances face a tough scenario for 2010, after Congress rejected a proposed larger budget.

In 2010, a politically weakened Guatemalan Government will be obliged to find financing to cover an expected $770 million fiscal deficit.

It will be tough to achieve such goal without compromising the country's macroeconomic balance and sovereign debt ratings, so there will probably be important cuts in public spending.

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