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.
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.
In 2010, the Central American Bank for Economic Integration (CABEI), will lend $1.038 million for development projects.
$370.8 million are earmarked for Costa Rica, $199.8 million for El Salvador, $173.2 million for Guatemala and $114.9 million for Nicaragua.
As for Honduras, Alfredo Ortuño, CABEI's director, explained that "...disbursements are on hold until the Central American Integration System (SICA) revokes a ruling enacted after the Honduran coup d'état. Nevertheless, the bank has earmarked $123.6 million to finance projects in the country".
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.