LatinNews Daily - 07 May 2021

In brief: IMF announces staff-level agreement with Honduras

* The International Monetary Fund (IMF) has said that it reached a staff-level agreement with Honduras on the conclusion of the fourth review under their economic reform programme supported by the Stand-By Arrangement (SBA) and Stand-by Credit Facility (SCF) and proposed to increase access under the SBA/SCF by US$215m to about US$769m. According to the IMF, the increase is justified in the context of balance of payments needs brought on by the tropical storms 'Iota' and 'Eta' which made landfall in November 2020 and the continued coronavirus (Covid-19) pandemic, which resulted in Honduras's GDP contracting 9% in 2020. The financing will support the authorities’ reconstruction efforts and to combat Covid-19. The agreement is subject to approval by the IMF’s Executive Board, tentatively scheduled for June.

End of preview - This article contains approximately 133 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.