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 "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."

More on this topic

IMF Executive Board Approves First Review Under Costa Rica’s Stand-By Arrangement

September 2009

The IMF completed the first review of Costa Rica’s economic performance under the 15-month Stand-By Arrangement.

Completion of the review makes an additional SDR 41.025 million (about US$65 million) available for disbursement, bringing the total resources available to Costa Rica under the arrangement to SDR369.2 million (about US$585 million).

El Salvador: New Stand-by Arrangement

September 2009

IMF and El Salvador have reached a preliminary agreement on a $800 million Stand-By Arrengement.

The new program will replace the 15-month Stand-By Arrangement approved on January 16, 2009 (see Press Release No. 09/10)

The agreement reached with the authorities is subject to approval by the IMF management and Executive Board, which could consider the request for the new Stand-By Arrangement in November.

Guatemala: World Bank Approves USD 350 Million Loan

July 2009

The World Bank Board of Directors approved a USD 350 million Development Policy Loan (DPL) for the government of Guatemala.

With the objective of continuing to support the country’s efforts to improve its fiscal and institutional policies and mitigate the impact of this global crisis.

FMI grants $800 million to El Salvador

January 2009

The directory of the IMF approved a 14 month "stand-by" credit line, that will allow the country to tap $800 million. reports: "'These substantial IMF funds will increment the liquidity reserves of the economy and will contribute to strengthen the trust in El Salvador's financial system.', stated Murilo Portugal, sub Manager and acting president of the the Directory."

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