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Caribbean & Central America - January 2020

Economic Highlights

HONDURAS | IMF completes reviews. Last month the International Monetary Fund (IMF) announced that it had completed the first reviews of Honduras’s performance under the economic programme supported by a two-year Stand-By Arrangement (SBA) and a two-year arrangement under the Standby Credit Facility (SCF). This programme was approved on 15 July 2019 for US$309.2m, the equivalent of 90% of Honduras’s quota at the IMF. The completion of the reviews enables the authorities to access resources in the total amount of about US$144.7m. According to the IMF, the Honduran authorities remain “fully committed to the economic programme supported by the IMF”. They have maintained “prudent macroeconomic policies—the fiscal position is in line with the fiscal responsibility law, inflation is within the central bank’s target band, and the current account deficit has narrowed despite adverse terms of trade—and have taken initial steps on structural reforms to promote sustained, inclusive growth”.

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