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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