{
  "title": "Guatemala: Staff Report for the 2005 Article IV Consultation",
  "publication": "IMF Staff Country Reports, October 6, 2005",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Following three years of sluggish economic growth, activity in Guatemala improved somewhat in 2004.\n- Real GDP rose by 2¾ percent in 2004.\n- Consumer price inflation drifted upward to more than 9 percent in 2004.\n- Monetary policy is being geared to reducing inflation to the 4–6 percent range.\n- The exchange system is flexible; however, the central bank intervened in the foreign exchange in 2004 to contain the appreciation of the quetzal against the U.S. dollar.\n- In January 2005, a rules-based mechanism for interventions was introduced."
    },
    {
      "heading": "Key macroeconomic findings",
      "content": "- Growth: real GDP rose by 2¾ percent in 2004.\n- Inflation: consumer price inflation rose to more than 9 percent in 2004.\n- Inflation targeting stance: monetary policy aims for inflation of 4–6 percent.\n- Exchange regime: described as flexible, with central bank interventions in 2004 to limit quetzal appreciation; a rules-based intervention mechanism began in January 2005."
    },
    {
      "heading": "Policy implications and priorities identified",
      "content": "- Use monetary policy to reduce inflation toward the 4–6 percent range.\n- Maintain a flexible exchange system while employing a rules-based intervention mechanism introduced in January 2005 to address excessive exchange rate appreciation pressures.\n\nSource: Guatemala: Staff Report for the 2005 Article IV Consultation, October 6, 2005.\n\n---\n\n Content in this bundle\n\n- cr05362 — Executive Summary and Selected Staff Report Extracts\n  - cr05362 — Executive Summary and Selected Staff Report Extracts (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr05362 — Executive Summary and Selected Staff Report Extracts (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 6, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451816655.002",
    "Following three years of sluggish economic growth, activity in Guatemala improved somewhat in 2004.",
    "Real GDP rose by 2¾ percent in 2004.",
    "Consumer price inflation drifted upward to more than 9 percent in 2004.",
    "Monetary policy is being geared to reducing inflation to the 4–6 percent range.",
    "The exchange system is flexible; however, the central bank 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.",
    "Growth: real GDP rose by 2¾ percent in 2004.",
    "Inflation: consumer price inflation rose to more than 9 percent in 2004.",
    "Inflation targeting stance: monetary policy aims for inflation of 4–6 percent.",
    "Exchange regime: described as flexible, with central bank interventions in 2004 to limit quetzal appreciation; a rules-based intervention mechanism began in January 2005.",
    "Use monetary policy to reduce inflation toward the 4–6 percent range.",
    "Maintain a flexible exchange system while employing a rules-based intervention mechanism introduced in January 2005 to address excessive exchange rate appreciation pressures.",
    "**_cr05362 — Executive Summary and Selected Staff Report Extracts**"
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