Jonathan Menkos outlines economic vision at Guatemala Congress

Jonathan Menkos, the new president of the Banco de Guatemala, appeared before the Finance Commission of the Congress to outline his economic vision. Menkos emphasized maintaining macroeconomic stability while utilizing public investment to increase the country's productive capacity.

Regarding fiscal policy, Menkos stated that the projected 4.4% GDP deficit for 2027 is manageable, as much of it is tied to strategic investments such as road infrastructure, water, sanitation, and the western pier of Puerto Quetzal. However, he noted that Guatemala should gradually return to a deficit closer to 2%, a historical norm for the nation. He forecasted economic growth of 4.3% for 2026 and at least 4% for 2027.

His appointment has faced legal challenges. Critics and legal injunctions have questioned his ability to hold the position due to his concurrent status as an elected member of the Congress of the Republic, arguing that the presidency of an autonomous entity like the central bank is incompatible with holding a political office.