Guatemala’s offshore banks are losing their allure for people in business
Monday, January 10, 2011
Guatemala’s offshore banks registered a 17.4 percent drop in their credit portfolios in 2010.
Flavio Montenegro, general manager of Banco G&T Continental, believes that there are two factors that discourage potential investors.
The main factor, he says whoever, is the exchange rate between dollars and quetzals.
Original source (in Spanish): El Periódico