Identifier
Created
Classification
Origin
04GUATEMALA941
2004-04-16 16:50:00
UNCLASSIFIED
Embassy Guatemala
Cable title:  

OPIC'S REQUEST FOR GUIDANCE ON LOAN TO PEGGY SA

Tags:  EINV GT 
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This record is a partial extract of the original cable. The full text of the original cable is not available.

161650Z Apr 04
UNCLAS GUATEMALA 000941

SIPDIS

PASS TO OPIC FOR ELENA GONZALEZ

E.O. 12958: N/A
TAGS: EINV GT
SUBJECT: OPIC'S REQUEST FOR GUIDANCE ON LOAN TO PEGGY SA

REF: SECSTATE 52795

The Embassy has no negative information on the participants
nor the project involving Peggy S.A. In regards to the local
real estate market, there is currently increased investor
optimism following the January inauguration of President
Oscar Berger, who is widely seen as "business friendly." Zone
10 where the project is proposed, is among Guatemala City's
most choice areas and includes the upscale "Zona Viva" hotel
and restaurant zone. Guatemala's weak judicial system,
however, continues to add risk to local investment.
Investors in real estate need to be especially cautious in
ensuring that they receive clear title to land they purchase.
HAMILTON