Guatemala: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guatemala
IMF Staff Country Reports, May 24, 2023
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- Guatemala: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guatemala
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Bibliographic details
- Published: May 24, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400242939.002
Key findings and macroeconomic assessment
- Guatemala has a solid record of accomplishment of prudent macroeconomic policies and large remittance inflows, which provided the country with large buffers to weather a challenging global environment and tightened global financial conditions.
- Inflationary pressures remain high; with April 2023 headline inflation at 8.32 percent.
- The currency has remained stable and the external balances solid, despite a large import bill.
- The financial sector has proven resilient to global financial tightening conditions and domestic interest rate hikes.
- Guatemala remains an economy with untapped opportunities.
Policy priorities and recommendations
- Scale up implementation of a transformative infrastructure agenda.
- Foster human capital and social policies.
- Enhance legal certainty to support a sustainable and inclusive medium-term growth model with higher potential growth.
- Fast track reforms to improve the business climate environment and attract foreign investment.
Risks, opportunities, and strategic outlook
- While the global outlook is challenging, the current conjuncture offers opportunities to draw on the demographic dividend.
- The combination of demographic dynamics and the suggested reforms could help accelerate private investment and inclusive growth.
Key statistics and technical points
- April 2023 headline inflation: 8.32 percent.
- Report length: 102 pages.
- Series: Country Report No. 2023/172.
- Stock No: 1GTMEA2023002.
- ISBN: 9798400242939.
- ISSN: 1934-7685.
- DOI: https://doi.org/10.5089/9798400242939.002
International Monetary Fund. Guatemala: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guatemala.
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- 1gtmea2023002