Honduras : Request for a Stand-By Arrangement and an Arrangement Under the Standby Credit Facility

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

December 24, 2014

Electronic Access:

Free Full Text (PDF file size is 1368 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The government of President Hernandez inherited a difficult macroeconomic situation upon taking office in January 2014. Economic growth decelerated significantly in 2013, driven mainly by lower private demand from policy uncertainty and by weaker trade-partner growth. The fiscal accounts weakened considerably in 2011–13, reflecting sizeable increases in government spending and in the deficit of the state-owned electricity company. The relaxation of fiscal policy has led to a rapid increase in public debt, which would continue into the medium term absent a change in economic policies. The balance of payments position has also weakened over the last three years, reflecting both expansionary macroeconomic policies and a less favorable terms of trade.

Series:

Country Report No. 14/361

Subject:

English

Publication Date:

December 24, 2014

ISBN/ISSN:

9781498323758/1934-7685

Stock No:

1HNDEA2014001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

94

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