IMF Extends $789 Million in Credit to Guatemala

After a second review of Stand-by Agreement signed in April, the IMF approved a disbursement of $786 million.

Wednesday, December 23, 2009

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 arrangement, in the amount of SDR 630.6 million (about US$986 million) was approved on April 22, 2009 (see Press Release No. 09/142). With completion of the review, a total of SDR 504.48 million (about US$789 million) is available for drawing.

The Executive Board also approved a modification of a performance criterion and the inflation consultation clause. In particular, the overall fiscal deficit for end-March 2010 was revised upwards to provide room for spending to support the incipient recovery and the inflation consultation band was adjusted downwards in view of the benign inflation outlook. As risks to the program have declined, program reviews will now take place on a semiannual basis instead of on a quarterly schedule, while maintaining quarterly performance criteria.



More on this topic

IMF Executive Board Approves US$202 Million in Financial Support for Honduras

October 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.

IMF Concludes Third Review of Guatemala’s Stand-By Arrangement

June 2010

The Executive Board of IMF on June 16 concluded the third 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 arrangement, in the amount equivalent to SDR 630.6 million (about US$927.2 million) was approved on April 22, 2009 (see Press Release No.

IMF Extends $789 Million in Credit to Guatemala

December 2009

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.

IMF Executive Board Completes First Review Under Guatemala’s Stand-By Arrangement

September 2009

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).

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