IMF Grants $950 Million Credit Line to Guatemala
The 16-month line of credit will strengthen the country’s international position and monetary reserves.
Friday, March 27, 2009
Gabriel Lopetegui of the IMF said that "it is a precautionary agreement that is not expected to be used, but it is there to serve as a shield for the country."
The agreement, which expires in March 2012, will enable the country to get immediate access to funds worth $196 million.
Finance Minister William Chong Wong affirmed they will be completely transparent when the International Monetary Fund reviews Honduras’ accounts.
In early December, the government will begin negotiations for a potential $300 million agreement.
"The performance of public finances until September was in line with the program negotiated with the government," concluded the IMF mission.
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