The Ministry of Finance awarded $37 million in installments of 10, 12 and 15 years at interest rates of 7.1%, 7.3% and 7.5%, respectively.
From a statement issued by the Ministry of Finance of Guatemala (Mifin):
The results of the placement of Treasuries held on Tuesday March 10, 2015 are as follows:
Demand was for $ 96.8 million, of which 0.67% was received with a maturity date October 2, 2025; 71.6% with a maturity date of May 19, 2027 and 27.6% with a maturity date of March 18, 2030.
An adequate legal framework is needed for the healthy and steady development of institutions engaged in microfinance.
The Association for Research and Social Studies (ASIES) has published a study on the essential institutional strengthening of microfinance in Guatemala, with its own data and references it reports from the Secretariat for Economic Integration (SIECA) on "The Importance of the Micro Financial Sector in Central America ".
In the third and final tract of the issue authorized by the Legislature, the government has placed $18 million with maturities of 10 to 15 years and rates of 7.12% and 7.50% respectively.
From a statement issued by the Ministry of Public Finance of Guatemala (Mifin):
The results of the placement of Treasuries held this in February 2015, are:
Requests received $62.9 million, of which 3.1% were for maturity dates of 10.02.2025; another 43.6% for the maturity date 05/19/2027 and 53.3% for the maturity date of 3/18/2030.
The Ministry of Finance received offers for $205 million but only issued $188 million in tracts with maturities in 2025, 2027 and 2030, at rates of 7.12%, 7.37% and 7.50% respectively.
From a statement issued by the Ministry of Finance in Guatemala:
The Ministry of Finance hs placed Q1,440.6 million ($188 million) in Treasury Bonds
The results of the placement of Treasury Bonds on January 22, 2015, were as follows:
In order to encourage investment in the country, starting from this fiscal year income tax paid by taxpayers registered in the regime on profits will be reduced from 28% to 25%.
According to the latest amendment of the Law on Tax Update, Decree 10-2012, the rate of income tax (ISR) applied to taxpayers from 2015 will be 25%. The authorities clarified that the rate of 28% will be applied to taxpayers who have not yet completed the liquidation of 2014
The balance of debt authorized to finance the 2015 budget was issued in three tracts with maturities of ten, twelve and fifteen years, with rates of 6.99%, 7.19% and 7.38% respectively.
After declaring the auction held last week void, the Ministry of Finance has finally managed to place the balance of the debt issuance authorized by the Congress. Due to the conditions demanded by investors, the government had to adjust rates to levels below those offered in the auction of the first part of the issue.
On December 12th the Ministry of Finance expects to place in the domestic market the remaining 30% of the issue approved in order to finance the 2015 budget.
70% of the treasury bonds that Congress passed have already been awarded, and on December 12th it is expect that the remaining 30%, ie $110 million will be auctioned in the local market.
Carlos Gonzalez, an analyst at the Association for Research and Social Studies, told Diario de Centro America "... The extraordinary bond issue was made due to underfunding of the budget, resulting from low tax revenues. Also, the spending requirements of the Ministries of Health, Education and Government forced Congress to authorize this transaction. "
In terms of 10, 12 and 15 years and rates of 7.12%, 7.37% and 7.57% respectively, the government has issued treasury bonds for Q1,958.1 million, equivalent to $256 million.
Of the $366 million in treasury bonds approved by the Congress, 70%, which corresponds to $256 million, was placed by the Ministry of Finance in order to finance the budget for 2015, because the World Bank did not approved the loan of $340 million which was to be used for that purpose.
The new head of the Superintendency of Banks intends to resume the discussion in Congress of a bill which would regulate banking secrecy in the country by way of tax audits.
With the aim of improving tax controls, the Superintendency of Banks (SIB) seeks to reform national legislation for the regulation of banking secrecy in order to access "... Banking information of taxpayers, under guarantees of confidentiality."
With the recent consent given by the Banguat for a new issuance of new debt totalling $1,917 million to finance the 2015 budget, the fiscal deficit could exceed 2.5% of GDP.
The private sector is not looking favorably on the approval given by the Monetary Board of the Bank of Guatemala for the possible issuance of $1.917 million in debt to finance part of the 2015 expenses, because the fiscal deficit would rise to levels above that considered acceptable in economic terms.
Since the beggining of the FTA Guatemalan exports to Colombia have increased by 4.6% annually, while Colombian goods going to Guatemala have risen by 23.9% annually.
From a statement issued by the Government of Guatemala:
It has now been five years since the entry into force of the Free Trade Agreement-FTA- between the Republics of Guatemala and Colombia which has fostered the expansion and diversification of trade in goods and services between the two countries by removing trade barriers.
A bill introduced by the government intends to streamline access to the Panamanian market for foreign companies in the provision of maritime auxiliary services.
Excerpted from the bill introduced by the government of Panama:
Law 41 of June 14, 2013, through which reform is made to Law No. 8 of 1998 is amended by Decree, Act 56 of 2008 and Act 57 of 2008 which dictates other provisions on the work at sea and on waterways, significantly restricting access to the Panamanian market to foreign investors in the provision of maritime auxiliary services in the Republic of Panama.
On November 4th, Guatemala City will host a regional summit on energy investments in Central America.
From A statement issued by the Government of Guatemala:
The minister Erick Archila has announced that Guatemala will host a summit on energy investment in the countries of the Mesoamerican region which will take place on November 4, convened by the Ministry of Energy and Mines (MEM).
The aim of the Guatemalan government is to increase investments made by Colombian companies in sectors such as energy, food, plastics and textile businesses.
"... The Colombian investment is one of the most important ..." for Guatemalans because not only do they have a presence in the mining sector, but also in other sectors which are important for economic development.