Honduras: Fifth and Sixth Reviews Under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Honduras

November 21, 2017

Preview Citation

Format: Chicago

Honduras: Fifth and Sixth Reviews Under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Honduras, (USA: International Monetary Fund, 2017) accessed September 19, 2024

Summary

This paper discusses Honduras’ Fifth and Sixth Reviews under the Stand-by Arrangement (SBA). All continuous performance criteria for the end of June 2017 were met. The indicative target on the National Electricity Company’s (ENEE) operating revenue-to-spending ratio was missed by a small margin owing to up-front fees paid to the loss-recovery concessionaire. On the structural front, notable reforms are the adoption of a fiscal responsibility law to anchor a sustainable medium-term fiscal position; the overhaul of the tax administration; and the reduction in the heavily overstaffed payroll of ENEE. The authorities have indicated that they will not purchase the amount available on completion of these reviews, in line with their intention to treat the SBA as precautionary.

Subject: Credit, Currencies, Economic sectors, Financial institutions, Loans, Money, National accounts, Public debt, Public sector

Keywords: Authorities' knowledge, Authority, Central America, Central bank, CR, Credit, Credit card law, Discussion of the review, Exchange rate, FX surrender requirement, Global, Honduran authorities, Honduras, ISCR, Loans, Public sector, Reform agenda

Publication Details

Pages:

85
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/331
Stock No:

1HNDEA2017001
ISBN:

9781484325629
ISSN:

1934-7685

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