Guatemala

This 2005 Article IV Consultation highlights that following three years of sluggish economic growth, activity in Guatemala improved somewhat in 2004, with real GDP rising by 2¾ percent, but consumer price inflation drifted upward to more than 9 percent. Monetary policy is being geared to reducing inflation to the 4–6 percent range. The exchange system is flexible, but the central bank has intervened in the foreign exchange in 2004 to contain the appreciation of the quetzal against the U.S. dollar. In January 2005, a rules-based mechanism for interventions was introduced.Article IV consultations;Economic conditions;Economic indicators;Financial sector;Staff Reports;Statistical annexes;public debt, central bank, current account, tax administration, external debt, balance of payments, public sector debt, tax revenue, fiscal policy, social expenditure, tax effort, private banks, fiscal deficit, current account deficit, tax collections, budget law, fiscal transparency, current account balance, debt ratio, tax returns, short-term debt, debt sustainability, tax reductions, tax system, fiscal discipline, long-term debt, debt stock, tax policy, tax credits, public expenditure, tax revenues, fiscal resources, debt outstanding, domestic currency, external debt sustainability, fiscal policies, budget deficit, additional fiscal resources, loan disbursements, budgetary funds, total external debt, public spending, quality of public spending, primary deficit, debt dynamics, external financing, reserve assets, fiscal statistics, fiscal stance, fiscal incentives, external liabilities, amortization payments, interest expenditure, sovereign debt, fiscal measures, tax base, foreign loans, external public sector debt, external payments arrears, principal repayments, tight fiscal policy, domestic public sector debt, debt ? ? ? maturity, general resources account, fiscal costs, private external debt, fiscal strategy, capital expenditure, expenditure reform, domestic debt, public sector management, domestic investors, prudent fiscal policy, central government expenditure, fiscal assumptions, debt problems, repayments, public sector borrowing, domestic borrowing, tight fiscal policies, government expenditures, tax reform, budgetary control, external payments, central government expenditures, domestic financing, public expenditure reform