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".

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.

More on this topic

El Salvador as seen by the IMF

April 2011

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.

IMF Completes Second Review Under Stand-By Arrangement for El Salvador

IMF Concludes First Review of El Salvador’s Stand-By Arrangement

September 2010

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.

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:

Guatemala Makes Stand-By Agreement Request to IMF

May 2009

The letter of intent spells out the Guatemalan Government’s fiscal and monetary policy for the 2009-2010 period.

In the letter of intent, Guatemalan authorities have requested a Stand-By Agreement (SBA) for a period of 18 months, with full access to 630.6 million in Special Drawing Rights (SDRs) (about $951 million.) An initial purchase of 420.4 million in SDRs (about $634 million) will be available upon the Board’s approval of the agreement. The rest will be available in five purchases subject to quarterly review. The intention is to treat the agreement as a precaution.

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