Honduras: Request for Stand-By Arrangement-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Honduras
July 23, 2008
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This paper discusses request from Honduras’ authorities for a Stand-By Arrangement (SBA). Honduras has had three previous Poverty Reduction and Growth Facility (PRGF) arrangements, the last of which ended in February 2007. The most recent PRGF program focused on fiscal consolidation and structural reforms. However, the program went off track owing to large wage increases granted in 2006, including a four-year agreement with teachers. The authorities are now requesting a 12-month SBA covering economic policies through December 2008. In IMF staff’s view, the authorities’ program appropriately addresses emerging imbalances.
Subject: Banking, Economic sectors, External debt, International reserves, Poverty, Poverty Reduction, Poverty reduction strategy, Public debt, Public sector
Keywords: Central America, CR, executive board discussion, Global, government deposit, Honduran authorities, IMF staff representative, ISCR, Poverty reduction, Poverty reduction strategy, program, Public sector, staff appraisal, statement
Pages:
78
Volume:
2008
DOI:
Issue:
241
Series:
Country Report No. 2008/241
Stock No:
1HNDEA2008001
ISBN:
9781451817201
ISSN:
1934-7685
Notes
Full text also available in Spanish.
