Bank of Guatemala with surplus
Tuesday, September 2, 2008
2007 was the first time in almost 30 years that the Bank of Guatemala reported a surplus ($28 million) in its Income Statement.
Returns being generated by international reserves show that 2008 will also close with a surplus in the financial balances.
According to the Monetary Policy follow-up report, Exchange and Credit, as of 21 August, the central bank reported a preliminary surplus of $56 million; the entity's income is greater than its expenses, as well as the cost of the monetary policy.
More on this topic
Banguat Leading Rate Rises to 5%
July 2011
The Bank of Guatemala has increased the monetary policy leading interest rate from 4.75% to 5.00% taking effect from 28 July.
In its analysis, the Monetary Board took into consideration that the global economy is continuing to expand, albeit at a slower pace than expected. However, according to the International Monetary Fund, this moderation in growth is temporary and forecasts still point to global growth being located above the historical average. It also found that international prices of raw materials (oil, corn and wheat) in recent weeks again showed an increasing trend and are staying at levels high compared to the previous year
International Reserves Grow in Guatemala
July 2011
The current amount would pay the country’s entire national debt.
The country's strong economic performance, the increase in remittances and a rise of almost 20% in exports has allowed the growth of international reserves, an important macroeconomic indicator which measures the country's payment capacity.
Pressure Against the Quetzal Continues
March 2009
The Banguat continued its intervention in the foreign exchange market by selling $34.9 million to stop the devaluation of the Quetzal.
Pressures against the quetzal could be a product of the decision taken in December by the Monetary Board and the Bank of Guatemala to loosen the rules of participation and the reduction in bank reserves which generated greater liquidity in the local currency that was channeled toward purchasing foreign currency, according to some analysts.
Banguat Defends Quetzal with $19.2 Million
March 2009
The Bank of Guatemala (Banguat) intervened in the foreign exchange market to halt the devaluation of the Quetzal.
The bank placed $19.2 million at an exchange rate of Q8.08 and Q8.10; this being the first time it has intervened in the market since December 29, 2008, when it auctioned $3.5 million.
Key entities
Bank of Guatemala
Bank of Guatemala
Exports & imports
Guillermo Zúñiga
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