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Weekly Report - 23 October 2014 (WR-14-42)
HONDURAS: Finally, a deal with the IMF
The government led by President Juan Orlando Hernández has finally inked a new Stand-By Agreement (SBA) with the International Monetary Fund (IMF) that should give it access to US$220m in new financing as of 10 November. The Hernández government’s celebration of the deal was slightly marred by the IMF’s deputy head of the Americas, Robert Rennhack, who in announcing the deal said it would imply a “strong fiscal adjustment”. Such was the furore over that statement that the Fund’s Honduran representative, Mario Dehesa Dávila, had to put some soothing balm on Rennhack’s ‘tough love’.
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