Central American Economy Journal to oversee economic growth rate up or down

2011-11-29

The depreciation of the Guatemalan currency (US$-Quetzal) will lead affect the economic growth rate of Guatemalan economic growth of 2011, according to the Central American Economy Journal, down by 2.4% from 2.8% as anticipated at the turn of 2011, with 0.4% in the effect. The Central American Economy Journal indicates that such change results from the lowering economic liquidity, with the standstill credit loans to supply limited the US dollars for exchange into the Guatemalan currency. The direct effect so caused is the cool-down economic growth starting from March 2011. The official statistics of the Guatemalan Central Bank indicate that at the turn into 2011, the exchange rate changed from 1 Quetzal: US$1 into Q7.59 Quetzal : US$1 as of April 26, 2011. To date, such a change leads to a difference with a decrease of Q0.42 Quetzal or 5.6%. The National Economic Research Center of Guatemala pointed out that the causes leading to the drop of economic growth rate include uncertain outcome of the election, rise of fuel price and the rise of the minimal wage.