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."
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 has recognized the government led by Porfirio Lobo Sosa, assured María Elena Mondragón, president of the Central Bank of Honduras.
The government is trying to arrange a $1 billion loan to face possible economic difficulties.
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.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar