Does anyone think that the economic crisis in Argentina could be repeated in Guatemala?

Question

In Decemeber 2006 Guatemalan people experienced a not so common event: the lack of money in Banks. No Bank in the system had cash to give to the people. If you had a check of Q. 100 the Bank couldn't give you cash with the excuse that the Central Bank of Guatemala had taken the old currency (the paper) to exchange it with a new one. Everyone started to freak out because no one had cash, only credit or debit cards could be used in a 3rd world country where plastic is not accepted in the majority of places. The crisis is still going on and what every person in Guatemala city (as myself) is asking: will I get my money back? Argentina had an economic crisis that begun with events like this. That is the purpose of my question: to find out if what happened last Christmas is the beginning of the end. I had the worst Xmas ever, people payed me in checks (I am a lawyer) but I couldn't get cash and many establishments charged me 8% more if I wanted to use credt or debit cards. Please help!

Answer 1

I think the currency shortage is a short term problem, and will work itself out within a month. The longer term problem is lack of foreign exchange from international coffee sales is a different problem, that is causing solvency problems with the big banks.

Answer 2

NO! This kind of problem, the lack of currency is VERY Guatemalan! I live here and it´s RIDICULOUS the kind of problems we encounter, so for me to hear that there is no currency is just another inconvinience of living in a third world country which is ran by corruption and mentally challenged politicians.

Answer 3

I think more of Venezuela will have a economic trouble

Answer 4

yes