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International Monetary Fund. Fiscal Affairs Dept.
[This report is available both in Spanish and English] At the request of the Finance Ministry and the Planning General Secretariat (SEGEPLAN) of Guatemala, an IMF team undertook a Public Investment Management Assessment (PIMA), including the Climate PIMA (C-PIMA) module, from May 30 to June 19, 2023. The main purpose of the mission was to identify strengths and weaknesses in Guatemala’s public investment management. The C-PIMA assessed how climate change related mitigation and adaptation measures are being addressed in the public investment cycle.
International Monetary Fund. Fiscal Affairs Dept.
A solicitud del Ministerio de Finanzas Públicas y de la Secretaría General de Planificación (SEGEPLAN) de Guatemala, se realizó una Evaluación de la Gestión de la Inversión Pública (PIMA), incluyendo el módulo de PIMA Climático (C-PIMA), del 30 de mayo al 19 de junio de 2023. El objetivo principal del informe esidentificar las fortalezas y debilidades en la gestión de la inversión pública de Guatemala. El C-PIMA evalua cómo se están abordando las medidas de mitigación y adaptación relacionadas con el cambio climático en el ciclo de inversión pública.
International Monetary Fund. European Dept.
This 2023 Article IV Consultation highlights that Guatemala's solid record of accomplishment of prudent macroeconomic policies and large remittance inflows provided the country with large buffers to weather a challenging global environment and tightened global financial conditions. Inflationary pressures remain high; with April 2023 headline inflation at 8.32 percent. The currency has remained stable and the external balances solid, despite a large import bill. The financial sector has proven resilient to global financial tightening conditions and domestic interest rate hikes. Guatemala stays an economy with untapped opportunities. Scaling up the implementation of a transformative infrastructure agenda, fostering human capital and social policies, and enhancing legal certainty are critical to support a sustainable and inclusive medium-term growth model with higher potential growth. While the global outlook is challenging, the current conjuncture also offers many opportunities to draw on the demographic dividend and to fast track reforms to improve the business climate environment and attract foreign investment.