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LatinNews Regional Monitor: Caribbean & Central America - 22 February 2019

In brief: Guatemala

* Guatemala’s economy minister Acisclo Valladares has told reporters that the country’s economy grew 3.1% in 2018. On 1 February, President Jimmy Morales had said that GDP growth was 3% but this did not take into account results from the customs union with Honduras which has boosted bilateral trade between Guatemala and Honduras to US$970m in 2018, up 7.1% on the previous year. Guatemalan growth for 2018 exceeded the predictions of the central bank (Banguat)’s monetary board, which had forecast 2.8% GDP growth. According to Valladares, GDP growth in 2018 was primarily linked to that of Guatemala’s main economic partner, the US, as well as the implementation of economic policies implemented by the Morales administration such as the single window for construction licences.

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