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Weekly Report - 16 April 2020 (WR-20-15)

GUATEMALA: Exposing fiscal vulnerabilities

Like his counterparts in Central America and beyond, Guatemala’s President Alejandro Giammattei has taken drastic steps to stop the spread of coronavirus (Covid-19) and mitigate the economic impact of such measures. While such measures are necessary, the prospect of racking up considerable debt comes as international ratings agency Fitch and local think tank Central American institute of fiscal studies (Icefi) warn of Guatemala’s “fiscal vulnerability” due to low a tax take - a perennial weak point.

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