Latinnews Daily - 19 November 2003

The government is facing a backbench rebellion over its efforts to secure a deal with the IMF by early 2004. Legislators from all the leading parties in congress, including the ruling Partido Nacional, have objected to the deal with the IMF, which would require a third fiscal adjustment in less than two years. A new deal is needed for Honduras to be eligible for the Highly Indebted Poor Counties initiative, under which it can write off US$900m of its foreign debt.