Fuel imports put IMF targets out of reach for Honduras
Honduras will be unable to meet targets set by the International Monetary Fund as a result of a soaring bill for fuel imports, finance Secretary Rebeca Santos said.
Wednesday, June 4, 2008
Santos said that Fund officials were aware that Honduras would be unable to meet the targets for inflation and international reserves. Between January and April of this year, the nation's monthly fuel-imports bill more than doubled to US$456 million.
A mission of the International Monetary Fund (IMF) began reviewing the Government of Honduras' economic program yesterday in Tegucigalpa.
The IMF mission that visited Honduras during May 13-21, 2008 discussed policy responses to the weakening external conditions.
The impact of high oil prices on the Honduran economy was on the agenda when a technical mission met with authorities from the central bank and finance ministry.
During February, the country will receive an IMF mission to assess the agreement signed in 2010.
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