International Reserves in Guatemala
Guatemala - International ReservesCovid-19 has drastically darkened the economic narrative in recent months. In April, remittances nosedived over the same month a year prior in tandem with skyrocketing unemployment in the U.S., where most remittances originate from. Contracting remittances, coupled with domestic containment measures, will weigh heavily on household consumption in the second quarter. This follows a first quarter in which the economy likely received a blow from the pandemic and worldwide restrictive measures adopted in March. However, data through February was relatively positive: Export growth accelerated notably in the period, while growth in the economic activity index was fairly robust. Government fiscal measures to mitigate the fallout now total around 3.4% of GDP, financed largely through new debt and World Bank and IADB loans, while authorities recently allowed some economic activities to resume.
Guatemala - International Reserves Data
|International Reserves (USD)||7.8||9.2||11.8||12.8||14.8|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala International Reserves Chart
Source: Guatemala Central Bank and FocusEconomics calculations.
|Exchange Rate||7.71||0.22 %||Jan 01|
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July 9, 2020
Consumer prices increased 1.41% in June over the last month, accelerating from May's 0.19% increase.
July 8, 2020
Remittances totaled USD 963.3 million in June, marking a 9.2% year-on-year increase (May: USD 836.0 million; -14.2% yoy) and the first annual increase since February?one month before Covid-19 hit the United States and much of the world, leading to widespread lockdowns and a surge in unemployment, particularly in the U.S. Nonetheless, the print is still down from October’s high of USD 1,000 million.
June 25, 2020
At its 24 June meeting, the Monetary Board unanimously decided to reduce the policy rate by 25 basis points from 2.00% to 1.75%—an all-time low.
June 18, 2020
Economic activity in Guatemala contracted 10.2% year-on-year in April, deteriorating from March’s 5.2% fall, amid containment measures to curb the spread of Covid-19.
June 9, 2020
Consumer prices increased 0.19% from the previous month in May, below the 0.71% increase seen in April.