Juan Alberto Fuentes Knight resigned to the Finance Ministry; he is unhappy with the little progress made in tax matters.
In a press release, Knight commented the positive things achieved in his tenure, which include the creation of a transparency vice ministry, four information websites, and improving Guatemala’s standing in the International Transparency Ranking by 12 spots.
In a strange unanimity, government officials agree with independent economic analysts: dollarization is inconvenient for Guatemala.
That the Guatemalan Central Bank argues against dollarization is no surprise for anyone, as its very reason for existence is questioned with it. Accordingly, its president María Antonieta de Bonilla stated that the concept has more disadvantages than advantages.
The country's 2007-2008 Human Development Report will be presented today by the United Nations Development Program (UNDP).
Slight economic growth in the country between 1980 and 2007 and unresolved social problems involving inequality and poverty "demonstrate how the Guatemalan economic model has failed", the Report states.
The document further indicates that the country has had economic growth levels below average world and regional figures of 2.7 percent between 1980 and 2007, According to the study "they will require 27 years to double their Gross National Product (GNP)"
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