1 “...This 2018 Article IV Consultation highlights that a sound monetary policy management in Guatemala...”

2 “..., and the financial sector appears sound and stable. The current account is in surplus and international reserve...”

3 “... pandemic. The confluence of a sound inflation-targeting regime, flexible exchange rate, credible fiscal...”

4 “...-2021. The country maintained sound market access and benefitted from IMF support through the Rapid...”

5 “... an impressive recovery from the pandemic, supported by the authorities’ sound policies as well as positive...”

6 “... external demand, resilient remittances, and a sound management of the pandemic—with the help of a...”

7 “... strong fundamentals and sound policy management. However, the economy is vulnerable to short-term shocks...”

8 “... been subdued, credit growth has eased, and financial soundness indicators are strong. The strong...”

9 “..., and sound macroeconomic policies are focused on prioritizing sustainability, supporting growth...”

10 “... be propitious for continued sound policies and progress with reforms...”

11 “... and that the banking system appears to be generally sound. However, efforts are still needed to improve consolidated...”

12 “...’ sound macroeconomic policies, the country’s political stability, and strong institutions. The current...”

13 “... Directors have encouraged the authorities to press ahead with sound macroeconomic policies and structural...”

14 “... to the economy. The banking system remains sound, but exposure to the oil and gas sector will require higher...”

15 “... structural issues, with notable achievements in the fiscal area. The financial sector is sound and resilient...”

16 “... supported sound macroeconomic policy management, which underpinned robust economic performance during...”

17 “... financial system soundness. It conducted 5 on-site examinations in 2016, including 3 full-scope examinations...”

18 “... relatively low. Inflation has subsided from its peak. The financial system remains sound. The outlook...”

19 “... uncertainties, a combination of sound policy measures and a resolute vaccination program have supported a...”

20 “... is relatively sound with ample liquidity buffers, but nonperforming loans are expected to rise significantly...”