April 28, 2022 |
Fitch Ratings said it improved the outlook on Guatemala's credit ratings to positive from stable and affirmed the sovereign issuer's BB- rating on a "better than expected fiscal performance."
Guatemala's government has made a "structural improvement in tax collection" as the economy has recovered, allowing it to keep debt-to-GDP ratios at low levels, even in "less favorable environments," Fitch said in a report on Tuesday.
The debt-to-GDP ratio is expected to fall to 27.4% this year from 28.5% i
Rating agency says the Central American government has improved tax collection to keep debt down in difficult times