## IMF Staff Concludes Visit to Honduras

_IMF News, November 16, 2018_

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## Bibliographic details
- Published: November 16, 2018

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### Mission overview
- IMF team led by Esteban Vesperoni visited Tegucigalpa from November 12-16 to assess recent economic developments since the completion of the 2018 Article IV consultation in May and the medium-term outlook.
- End-of-Mission press releases convey preliminary findings and the views expressed are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board.
- This mission will not result in a Board discussion.
- “The mission and the authorities have agreed to continue engagement towards negotiations for an economic program that could be supported by a financial arrangement with the IMF.”

### Macroeconomic outlook and recent developments
- After rapid growth in 2017, economic activity is expected to reach 3½ percent this year, close to its trend.
- Annual inflation reached 4.7 percent in end-October, within the 4±1 percent central bank target range.
- The current account deficit is projected at 3¼ percent of GDP in 2018, amid declining terms of trade due to lower coffee prices and higher oil prices.
- Buoyant activity in the U.S. and prudent macroeconomic policies will support growth in coming years.

### Fiscal position and policy framework
- The fiscal position continues to be anchored by the Fiscal Responsibility Law, including through measures to contain the financial situation in the public electricity company.
- The Nonfinancial Public Sector deficit is expected to stay within the law’s ceiling of 1.2 percent of GDP in 2018.

### Stakeholder engagement
- The mission held discussions with:
  - Central Bank Governor and Head of the Economic Cabinet Wilfredo Cerrato
  - Minister of Finance Rocío Tábora
  - Minister Director of the Tax Agency Miriam Guzmán
  - Commissioner of the National Commission of Banking and Insurance Adonis Lavaire
  - Other senior officials and representatives of the private sector
- “The mission wishes to thank the authorities for their hospitality and all stakeholders for the candid dialogue.”

*Source: IMF press release, November 16, 2018.*

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## References

- [Honduras and the IMF](http://www.imf.org/external/country/HND/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2018/11/16/pr18430-imf-staff-concludes-visit-to-honduras_