The euro area recorded its fastest growth rate for a decade and has been expanding robustly for more than five years, but the fog of uncertainty thickens, when it comes to growth prospects in the years ahead. The Jean Monnet principle applies: “Europe is the sum of the solutions adopted to address the crises it is faced with”.
International Monetary Reserves have reached highest historical levels, at over USD 6 bn (and expected to reach close to USD 7 bn in 2012), which represents an important liquidity cushion for the Guatemalan economy as well as a good signal to the international markets and credit rating agencies.