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2. Macro and country context: Guatemala

Macro and country context for investors in Guatemala: the laws that give the Banco de Guatemala a single price stability objective and an independent Junta Monetaria, the inflation target and policy rate, the freely convertible quetzal and enforceable dollar contracts, and the budget and public borrowing rules, with the latest official figures on growth, inflation, remittances and reserves. Where Guatemala's external accounts meet Argentina through trade or foreign exchange, see The Argentine Thread guide for the Argentine side.

Investor view. An independent central bank with a single price stability mandate, a freely convertible currency, ample reserves and a current account surplus make Guatemala one of the steadiest macro platforms in Central America for long term capital.

• Guatemala macro at a glance: the rules behind the quetzal, inflation, the policy rate and the budgetGuatemala's central bank has one legal objective, price stability, pursued by a Junta Monetaria that acts with absolute independence; it targets 4 percent inflation plus or minus 1 point and held its

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