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."

An article in elPeriódico of Guatemala indicated that the funds could be used to "address balance of payments issues such as capital flight, devaluation or a sharp drop in foreign exchange earnings."

The credit line comes with certain conditions for its use such as maintaining a maximum fiscal deficit of 2.4% of the GDP.

More on this topic

Honduras Reaches Stand-by Agreement with IMF

September 2010

The agreement, which expires in March 2012, will enable the country to get immediate access to funds worth $196 million.

An International Monetary Fund (IMF) staff mission was in Tegucigalpa between 7 and 10 September to continue discussions on an agreement between Honduras and the IMF to support the government's economic program. At the close, the mission's chief, Mr. Przemek Gajdeczka, issued the following statement:

Honduras Faces IMF Test

May 2010

Finance Minister William Chong Wong affirmed they will be completely transparent when the International Monetary Fund reviews Honduras’ accounts.

The previous IMF visit to review national accounts, a compulsory process for all member states, was conducted in Honduras back in 2009, when Manuel Zelaya was still president.

Guatemala to Negotiate Stand-By Agreement with IMF

November 2010

In early December, the government will begin negotiations for a potential $300 million agreement.

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".

IMF Concludes Review of Honduras

December 2010

"The performance of public finances until September was in line with the program negotiated with the government," concluded the IMF mission.

An IMF team held meetings with the economic cabinet, other policymakers and private sector representatives from November 29 until December 3.

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