Guatemala to Negotiate Stand-By Agreement with IMF
In early December, the government will begin negotiations for a potential $300 million agreement.
Tuesday, November 30, 2010
The Finance Minister, Alfredo del Cid, said that “that agreement will set parameters to control the fiscal deficit, which will be 2.8 percent this year and between 3 percent and 3.2 percent in 2011".
The letter of intent spells out the Guatemalan Government’s fiscal and monetary policy for the 2009-2010 period.
The agreement, which expires in March 2012, will enable the country to get immediate access to funds worth $196 million.
The Executive Board of the International Monetary Fund (IMF) has concluded the first review of El Salvador’s performance under its 36-month Stand-by Arrangement.
For 2011, improved prospects for external and domestic demand are expected to lift output growth, although high global fuel and food prices will increase inflation and the external current account deficit.
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