Honduras : Second Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility-Press Release; and Staff Report

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

January 7, 2016

Electronic Access:

Free Full Text (PDF file size is 2188 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper discusses Honduras’ Second Review Under the Stand-by Arrangement (SBA) and the Arrangement under the Standby Credit Facility (SCF). All 2015 end-June performance criteria and indicative targets were met, most with significant margins. On the structural side, June and September 2015 benchmarks were broadly observed. The revised program proposed for 2016 envisages a further strengthening of fiscal and net international reserve targets. The authorities are pressing ahead with structural reforms, including the introduction of a Fiscal Responsibility Law, an overhaul of tax administration, and reforms to the Honduran Social Security Institute. Based on performance to date and the authorities’ updated intentions and commitments, the IMF staff recommends completion of the second review under the SBA/SCF arrangement.

Series:

Country Report No. 16/4

Subject:

English

Publication Date:

January 7, 2016

ISBN/ISSN:

9781513509587/1934-7685

Stock No:

1HNDEA2016001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

96

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