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LatinNews Regional Monitor: Caribbean & Central America - 7 May 2019

In brief: Honduras

* President Juan Orlando Hernández has announced a new two-year agreement with the International Monetary Fund (IMF) that will give Honduras access to a US$311m credit line and that “will not mean more taxes for the country”. Finance minister Rocío Tábora declared that the agreement covers “protection for social investment and investment in infrastructure, energy restoration, administrative simplification and the economic empowerment of women”. The IMF’s report on the meeting notes Honduras’ stable macroeconomic conditions and the intention of maintaining this stability “while enacting economic and institutional reforms”. The IMF is forecasting 3.5% GDP growth in 2019, down from 3.75% in 2018. Additionally, the programme aims to “strengthen governance and improve the business climate to foster sustainable and inclusive growth”. A salient topic discussed between the IMF and the Honduran government was the state-owned electricity company (ENEE) which, according to the IMF, had a higher-than-expected deficit in 2018 (the details of which were not provided). Part of the new programme will tackle how to place the company on a financially sustainable path.

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