Guatemala hit by Fitch downgrade

Guatemala hit by Fitch downgrade

Economy & Policy

Guatemala suffered a rating setback on Friday, when Fitch cut the country’s grade a notch to BB noting its stagnant growth and a failure to widen its revenue base. The agency said Guatemala's five-year growth to 2013 averaged 2.8%, behind the BB median of 3.7%. “Despite demonstrated resilience through the global financial crisis; high crime, low savings and investment rates and low financial intermediation hinder growth potential and faster income convergence with the BB median,” Fitch said. Eco

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