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".
Guatemala has requested to date four Stand-By agreements, from 1992 to 94, 2002 to 03, 2003 to 04 and the last from 2009 to 2010.
The IMF approved financing for an 18-month program for Honduras to support the country’s efforts to restore macroeconomic stability.
The Executive Board of the International Monetary Fund (IMF) approved financing for an 18-month program for Honduras in the amount of SDR 129.5 million (about US$201.8 million) to support the country’s efforts to restore macroeconomic stability and advance economic reforms consistent with Honduras’s poverty reduction and growth objectives.
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.
he main objectives of El Salvador’s economic program under the arrangement are to bolster economic recovery, reduce poverty, preserve financial stability, and secure debt sustainability. The Stand-By Arrangement was approved on March 17, 2010 in the amount equivalent to SDR 513.9 million (about US$781 million). The Salvadoran authorities intend to continue treating the arrangement as precautionary.
IMF approved a 36-month, US$790 million Stand-By Arrangement for El Salvador to help the country mitigate the adverse effects of the global crisis.
The new arrangement, which the authorities intend to treat as precautionary, will succeed the 15-month SBA approved on January 16, 2009.
The main objectives of El Salvador’s economic program are to speed up the economic recovery, reduce poverty, preserve financial stability, and secure debt sustainability. One of the immediate priorities is to support domestic demand through a countercyclical fiscal policy in 2010, which includes modernizing the country’s road network and bolstering electricity generation.
After a second review of Stand-by Agreement signed in April, the IMF approved a disbursement of $786 million.
The Executive Board of the International Monetary Fund (IMF) on December 16th completed the second review of Guatemala’s economic performance under a program supported by an 18-month Stand-By Arrangement (SBA). The Guatemalan authorities intend to continue treating the arrangement as precautionary.
After a second review of Stand-by Agreement signed in April, the IMF approved a disbursement of $786 million.
The Executive Board of the International Monetary Fund (IMF) on December 16th completed the second review of Guatemala’s economic performance under a program supported by an 18-month Stand-By Arrangement (SBA). The Guatemalan authorities intend to continue treating the arrangement as precautionary.
The Executive Board of the International Monetary Fund today completed the first review of Guatemala’s economic performance under the 18-month Stand-By Arrangement
The arrangement, in the amount of SDR 630.6 million (about US$1 billion) was approved in April 22, 2009 (see Press Release No. 09/142).
With completion of the review, a total of SDR 462.4 million (about US$734 million) will be available for drawing.