Development of Public Debt Registry

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The overall objective of this project is to strengthen the emerging capital markets of Guatemala by increasing their transparency and efficiency and educating the investing public. The program will assist in the development of the Registry, created by the Ley de Mercados de Valores approved in 1996, so that it can effectively accomplish its functions. Most important, the Registry represents the first step to bring oversight and greatert ransparency to the presently unregulated over the counter market (OTC). The Registry's regulations for the OTC market should gradually become the benchmark for the operation of Guatemala's capital markets. These markets have largely gone unregulated or in the case of the stock exchanges have functioned under a self regulatory regime. The program will assist the government in the strengthening of the legal framework for the securities markets which will provide the basis for the future expansion of the Registry's functions.