{
  "title": "Guatemala: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex",
  "publication": "IMF Staff Country Reports, September 1, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/guatemala-2016-article-iv-consultation-press-release-staff-report-informational-annex-44211",
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  "summary": "This 2016 Article IV Consultation highlights that the macroeconomic performance of Guatemala has been solid. The economy grew at 4.1 percent in 2015, slightly above potential, despite a slowdown in public consumption and investment during the crisis.",
  "sections": [
    {
      "heading": "Macroeconomic performance",
      "content": "- Economy grew at 4.1 percent in 2015, slightly above potential.\n- Growth drivers in 2015:\n  - Private consumption supported by lower oil prices and strong remittances.\n  - Public consumption and investment slowed during the crisis.\n- With inflation well anchored, monetary policy was eased to support growth."
    },
    {
      "heading": "Outlook and projections",
      "content": "- Growth is set to return to its trend rate of 3.8 percent in 2016.\n- Growth is projected to gradually rise to 4 percent in the medium term, reflecting the positive impact of efforts to increase transparency and efficiency in public spending.\n- The macroeconomic outlook is characterized as benign."
    },
    {
      "heading": "External position and reserves",
      "content": "- Strong remittances boosted the external position, creating a comfortable reserve cushion."
    },
    {
      "heading": "Monetary conditions and inflation",
      "content": "- Inflation described as well anchored.\n- Monetary policy was eased to support growth."
    },
    {
      "heading": "Policy implications and reform emphasis",
      "content": "- Efforts to increase transparency and efficiency in public spending are highlighted as contributing to medium-term growth prospects.\n- Anti-corruption reform agenda and public sector improvements are implied priorities linked to better fiscal outcomes and growth.\n\nInternational Monetary Fund. Guatemala: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex (IMF Staff Country Report No. 2016/281).\n\n---\n\n Content in this bundle\n\n- cr16281\n  - cr16281 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16281 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 1, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475531473.002",
    "Economy grew at 4.1 percent in 2015, slightly above potential.",
    "Growth drivers in 2015:",
    "With inflation well anchored, monetary policy was eased to support growth.",
    "Growth is set to return to its trend rate of 3.8 percent in 2016.",
    "Growth is projected to gradually rise to 4 percent in the medium term, reflecting the positive impact of efforts to increase transparency and efficiency in public spending.",
    "The macroeconomic outlook is characterized as benign.",
    "Strong remittances boosted the external position, creating a comfortable reserve cushion.",
    "Monetary policy was eased to support growth.",
    "Efforts to increase transparency and efficiency in public spending are highlighted as contributing to medium-term growth prospects.",
    "Anti-corruption reform agenda and public sector improvements are implied priorities linked to better fiscal outcomes and growth.",
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