UPDATE 1-IMF forecasts robust economic growth for Guatemala through 2023
(Updates with details)
June 11 (Reuters) – Guatemala’s economy is expected to expand by 4.5% this year according to a projection from the International Monetary Fund (IMF) released on Friday, as Central America’s biggest market begins to recover from a pandemic-induced slump.
The Washington-based international lender sees 2021 growth prospects bolstered by a U.S. economic recovery, though it also cited downside risks including sluggish coronavirus vaccine distribution and the possible impact of new strains of COVID-19.
In a statement, the IMF said it expects further expansion of the Guatemalan economy of 4.0% in 2022 followed by 3.5% growth in 2023, when it is seen recovering to pre-pandemic levels.
Guatemala’s economy fared better last year than many others, contracting by only 1.5%, due to a favorable mix of domestic production and exports, robust remittances and “unprecedented monetary and fiscal policy support,” the IMF said.
The IMF…
