April 6, 2020 |
Fitch Ratings on Friday downgraded its credit rating for Guatemala, pushing it deeper into junk territory with a BB-minus from BB, citing poor tax collection, political gridlock and the negative impact on economic growth from the coronavurus outbreak.
"Congressional elections in 2019 resulted in a fractured Congress, leading to continued political gridlock and diminished reform prospects. A continued failure to enact reforms in the tax administration and pass new tax measures will lead to furthe
Rating agency says Guatemala suffers from diminished financing flexibility and lower growth prospects