Category: Banks. Country: Guatemala.
The Bank of Guatemala was created in 1945, as an autonomous entity responsible for all of the functions that correspond to a central bank, and in order to establish the monetary conditions that would be able to favor the methodical development of the national economy 'both in a local and international scope- preventing the inflationary and speculative tendencies. The most important legal instruments that rule the Bank of Guatemala are: its Organic Law, the Monetary Law, and the Bank Law. In addition to its responsibility to adapt the means of payment and credit policy to the necessities of the national economy, the Bank also promotes liquidity, solvency and good performance of the banking and financial institutions as well as the proper distributions of the credits; to keep the coordination of the economic and financial activities of the state with the monetary policy specially in its functions as banker, fiscal agent and advisor of the state. In order to secure the transactions and monetary transferences with other nations, the Bank has to safeguard the economic equilibrium of the country in the international relations, securing the competitive position of the national products, not only in the internal market, but also in the international one. With this purpose, it has to manage properly the country's international monetary reserves, avoiding the pressures and prejudicial effects on the currency, credit, prices and the different economic activities.
Address: 7a. Av. 22-01, zona 1, Guatemala, C.A. Phone: 502 2429 6000 Fax: 502 2253 4035
