Guatemala: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 362

Publication date: October 2005

ISBN: 9781451816655

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , government , policy , government agenda , GDP , priority , private sector , renewed commitment , U , S , dollar , market-oriented policy , exchange rate , Public sector , Central America

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Grenada

Peru

Republic of Congo : 2001 Article IV

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. 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.