Honduras: Second Reviews Under the Stand-by Arrangement and the Arrangement Under the Standby Credit Facility, Requests for Augmentation and Rephasing of Access, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras

June 3, 2020

Preview Citation

Format: Chicago

Honduras: Second Reviews Under the Stand-by Arrangement and the Arrangement Under the Standby Credit Facility, Requests for Augmentation and Rephasing of Access, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras, (USA: International Monetary Fund, 2020) accessed September 19, 2024

Summary

This paper presents Honduras’ Second Reviews Under the Stand-By Arrangement and Arrangement Under the Stand-By Credit Facility, Requests for Augmentation and Rephasing of Access, and Modification of Performance Criteria. The coronavirus disease 2019 pandemic and external spillovers are expected to hit Honduras hard, and the augmentation of access will support the authorities’ response to mitigate the impact. The completion of the reviews will help Honduras meet urgent balance of payments needs stemming from the pandemic, including increased health care and social spending. The authorities continue to take steps to improve the institutional framework in the electricity sector. Important measures have been incorporated into the program. These aim at improving governance and facilitating the unbundling of the national electricity company. Tariffs continue to reflect the cost of electricity provision while providing subsidies to the poor. The augmentation of access under the Stand-By Arrangement and the Arrangement under the Standby Credit Facility should help the authorities cover external financing needs to mitigate the impact of the pandemic.

Subject: COVID-19, Credit, Debt sustainability analysis, Economic sectors, External debt, Financial institutions, Health, Loans, Money, Public debt, Public sector

Keywords: Authority, Central America, Completes Second Reviews Under SBA, COVID-19, CR, Crawling peg regime, Credit, Debt, Debt sustainability analysis, Electricity sector reform, Emergency spending, Global, ISCR, Loans, Monetary policy, Public sector, SCF arrangement

Publication Details

Pages:

90
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/186
Stock No:

1HNDEA2020001
ISBN:

9781513546360
ISSN:

1934-7685

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