Caribbean & Central America - February 2009 (ISSN 1741-4458)

The Central American Bank for Economic Intergration (CABEI) is mildly gloomy about the prospects for Guatemala in 2009. It forecasts real annual GDP growth of between 1.8% and 2.8%. In 2008 the economy grew by 4%, on its estimates. The government itself is not as gloomy - it expects real growth of 3%-3.5% in 2009. On 11 February the government and the private sector agreed on an emergency economic plan to invest US$32.4m to create at least 31,500 new jobs. Under the agreement, the governent will contribute US$22.2m, with the balance from the private sector (US$10.2m). The programme will focus on irrigation and new logistical infrastructure. The agreement is the first element of the government's National Emergency Rescue Program, announced at the beginning of February.

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