Guatemala Analyzes a Precautionary Loan Request

The Government is analyzing whether to ask the International Monetary Fund (IMF) for a precautionary loan through a stand-by agreement.

Thursday, March 5, 2009

Siglo XXI published on its website: "A precautionary loan is characterized as stand-by because the organism commits to reserving the amount requested, but the disbursement is not immediate. Instead, the creditor holds the loan amount until it deems it is necessary to use the resources. The president of the Bank of Guatemal (Banguat), María Antonieta de Bonilla, revealed that the possibility is being evaluated because, just like other countries, Guatemala is looking to ‘ensure a contingency amount of resources’ that will be available in case of extreme necessity."

More on this topic

El Salvador Loses Access to IMF funds

April 2012

The IMF has temporarily suspended the availability of emergency funds for El Salvador because it has not met agreed targets, having exceeded government spending.

The IMF reported that the Salvadoran government may not use a precautionary loan (SBA) of $750 million, said Carlos Acevedo, president of Banco Central de Reserva (BCR).

IMF Recognizes New Honduran Government

March 2010

The IMF has recognized the government led by Porfirio Lobo Sosa, assured María Elena Mondragón, president of the Central Bank of Honduras.

Mondragón explained she received an official communication on behalf of the IMF, naming her the representative before the institution, and Finance Minister William Chong Wong as alternate representative.

Panama Negotiates Loan with the IMF

August 2009

The government is trying to arrange a $1 billion loan to face possible economic difficulties.

Such funds would be used as "loans of last resort", in the face of economic adversity.

Alberto Vallarino, Economy and Finance Minister told Prensa.com: "... it is a necessity that has arisen after the results of the competitiveness study of our financial center.

Guatemalan Congress approves new loans

February 2009

The Congress approved two loans for $28.5 million which will be added to the $950 million that were approved last Tuesday to finance the national budget.

PRENSALIBRE.com reports, "The decision to approve another loan for $30 million (Q237 million) - in aid for the criminal justice system -, was postponed at the request of the "Eferregistas" lawmakers who asked for more time to analyze it, as they claimed that "not even the Supreme Court knew all the details."

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