Guatemala: Ex-Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement
October 4, 2011
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Owing to the deteriorating economy of Guatemala, authorities requested a Stand-By Arrangement (SBA) with access of SDR 630.6 million in April 2009, which aimed at safeguarding macroeconomic and financial stability and anchoring investor confidence. Executive Directors have agreed that the SBA is successful in mitigating the financial crisis. Directors have appreciated the authorities’ commitment in implementing policies focused on short-term macroeconomic and financial stability on time, and also have urged to look into some important vulnerabilities that would have strengthened the fiscal framework.
Subject: Balance of payments, External debt, Financial crises, Prices, Public debt
Keywords: Central America, central bank, CR, crowding out, crowding-out of credit, Current account deficits, executive board assessment, executive board discussion, external shock, financing strategy, Global, Global financial crisis of 2008-2009, Inflation, investor confidence, ISCR, post evaluation, supportive monetary policy
Pages:
31
Volume:
2011
DOI:
Issue:
296
Series:
Country Report No. 2011/296
Stock No:
1GTMEA2011001
ISBN:
9781463921903
ISSN:
1934-7685
