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.
The Guatemalan bank will invest $20 million in the opening of five agencies in El Salvador.
Luis Lara Groject, Banco Industrial's manager, commented that the opening had been planned for May but the development of information systems took longer than expected.
According to elperiodico.com.gt the new Salvadoran branches will have $20 million worth of capital initially.
In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.
The Superintendent of Guatemalan Banks, Edgar Barquín, said that the purpose of this instrument would be to compensate for the likely loss of foreign credit lines.
According to an article in prensalibre.com, "credit lines granted by correspondent banks to local ones in the past 15 months have fallen by $130 million,” and "there are now nearly $1.6 billion in lines of credit."
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