Guatemala’s offshore banks are losing their allure for people in business

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