Press Release No. 07/202

Press Release: Statement on Upcoming IMF Missions to Honduras

September 24, 2007

Mr. Mario Garza, the International Monetary Fund (IMF) resident representative in Tegucigalpa, issued the following statement today:

"At the request of the authorities, the following IMF missions will visit Honduras in the coming weeks:

"During September 24-October 9, a joint IMF-World Bank mission will review progress in achieving financial stability and assist the authorities in developing options for reform to further improve the role of the financial system in promoting investment and growth, in a context of growing integration.

"During October 1-10, an IMF staff team and the authorities will examine fiscal developments in 2007, review the proposed 2008 fiscal budget, and discuss policies to address key fiscal challenges, with a view of protecting priority spending and keeping the public debt on a sustainable path.

"During October 8-9, an IMF staff team will participate in a regional workshop on medium-term expenditure frameworks and their impact on strengthening the forward-looking formulation of fiscal policy. Other participants in the workshop include officials from Central America and the Dominican Republic, and staff from the World Bank and Inter-American Development Bank.

"As is customary, the resident representative office will issue a statement on the main conclusions of these missions."