He euro is quoted at the beginning of the meeting Average of 9 quetzalesso that it represented a change of 2.45% compared to the previous session’s value.
If we look at the data for the last seven days, the euro cumulatively an increase of 2.26%, so it has still been an increase of cumulatively for a year 14.21%.
If we compare the data with previous data, the result of the previous day is reversed where it ended with a decline of 0.01%, showing its inability to consolidate a trend. The volatility related to these seven days is lower than that accumulated over the last year, so the behavior in these days is more stable than usual.
The specialists from Bank of Guatemala pointed out in the report “Macroeconomic Prospects and Performance” that by 2025 the Economic outlook of the country is mixed.
Although positive economic growth is expected, certain challenges remain that could impact the country’s overall performance.
At the international level, the International Monetary Fund (IMF) forecasts positive global economic growth through 2025, driven by the strength of the Labor market in advanced economies, the recovery of the service sector and the dynamics of private consumption.
This favorable global scenario could benefit Guatemala through greater foreign trade and investment attraction. However, the IMF also warns against this relevant risks Factors that could impact this growth include continued above-target inflation in advanced economies, instability in China’s real estate sector and uncertainty in other regions of the world. These external factors could have a negative impact on the Guatemalan economy.
As for the internal scenario, based on available data, the country’s economic growth is expected to be influenced by the performance of its main trading partners, which include the United States, Mexico, the Eurozone, El Salvador, Honduras and Nicaragua.
The growth of these countries, particularly the United States, which is Guatemala’s main trading partner, will be a crucial factor in development Economic performance Guatemalan, according to the experts in the report.
The quetzal is the legal currency in Guatemala and was created with the passage of the Currency Law in 1924, when then-President José María Orellana ordered the replacement of the Guatemalan peso.
The Guatemalan currency is currently divided into 100 cents and was initially worth 10 cents above the US dollar until it fell to par in 1980 and recovered months later.
Currently, the quetzal is equivalent to 7.50 units per US dollar and 9.25 units per euro, making it one of the 30 currency units in Latin America and one of the most immutable in the world.
The authority responsible for regulating currency creation is the Bank of Guatemala. Today, coins of 5, 10, 25 and 50 cents of a quetzal and 1 quetzal are known, while banknotes of 1, 5, 10, 20, 50, 100 and 200 quetzals are in circulation.
In its attempts to reduce coin production costs, the government has tried to introduce coins made from other materials, such as choosing steel instead of nickel or brass-plated steel.
As for the economy, the country has experienced the lowest volatile growth in three decades compared to other peers and emerging countries; At the same time, it has managed to keep public debt and the budget deficit stable, although this has not led to a reduction in poverty and inequality.
Likewise, Guatemala has the fourth highest rate of chronic malnutrition in the world and the highest among Latin American and Caribbean countries, affecting large indigenous and rural populations.
About The Author
