LatinNews Daily - 03 November 2020

* The International Monetary Fund (IMF) has revised down its projection for economic growth in Honduras in 2020, and now anticipates that the country’s economy will contract by 7% this year, down from the 3.3% decline forecast in June. This revision came following the conclusion of an IMF mission to Honduras, which agreed that an additional US$88m in credit should be made available to the country’s government through the Stand-By Arrangement (SBA) and Stand-By Credit Facility (SCF) approved in July 2019 for a total of US$312m. The mission noted that the coronavirus (Covid-19) pandemic had affected the country’s economy more than was initially anticipated, after the persistent spread of infections delayed the progress of economic reactivation. However, the IMF mission also praised the government’s “notable efforts” to support the economy by reducing interest rates and providing access to credit for small and medium-sized enterprises (SMEs), and as such projected that Honduras will see growth of around 5% in 2021.

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