## 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

_IMF Staff Country Reports, July 23, 2008_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2016/12/31/honduras-request-for-stand-by-arrangement-staff-report-staff-statement-press-release-on-the-22192)

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## Bibliographic details
- Authors: Arrangement-Staff Report
- Published: July 23, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451817201.002

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### Overview
- The authorities of Honduras requested a Stand-By Arrangement (SBA).
- The SBA requested is for 12-months and covers economic policies through December 2008.
- IMF staff's view: "the authorities’ program appropriately addresses emerging imbalances."

### Background and recent program history
- Honduras previously had three Poverty Reduction and Growth Facility (PRGF) arrangements; the last PRGF ended in February 2007.
- The most recent PRGF program focused on fiscal consolidation and structural reforms.
- The prior program went off track owing to large wage increases granted in 2006, including a four-year agreement with teachers.

### Key findings and assessment
- IMF staff assesses that the proposed 12-month SBA program is appropriately designed to address emerging macroeconomic imbalances.
- The request aims to restore program traction after the 2006 wage-related slippage from the previous PRGF arrangement.

### Subjects and policy areas covered
- Banking
- Economic sectors
- External debt
- International reserves
- Poverty
- Poverty Reduction
- Poverty reduction strategy
- Public debt
- Public sector

### Keywords and stakeholders mentioned
- 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

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/honduras-request-for-stand-by-arrangement-staff-report-staff-statement-press-release-on-the-22192_