IMF Offers Line of Credit to Guatemala
The International Monetary Fund offered a preventive line of credit to reinforce the country’s international reserves of $4.758 billion.
Friday, March 6, 2009
Leonel Diaz wrote in Prensalibre.com: "Alfred Schipke, IMF representative for Central America, said yesterday that because of the country's macro-economic strength, the IMF offered a stand-by agreement which would function as a line of credit. The proposal is being examined by the authorities of the Bank of Guatemala (Banguat). 'It's like an extra mattress. However, we are still holding talks to determine whether to accept it,’ the official said."
The IMF completed the first review of Costa Rica’s economic performance under the 15-month Stand-By Arrangement.
IMF and El Salvador have reached a preliminary agreement on a $800 million Stand-By Arrengement.
The World Bank Board of Directors approved a USD 350 million Development Policy Loan (DPL) for the government of Guatemala.
The directory of the IMF approved a 14 month "stand-by" credit line, that will allow the country to tap $800 million.
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