{
  "title": "Guatemala: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Guatemala",
  "publication": "IMF Staff Country Reports, June 11, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/06/11/guatemala-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-49507",
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  "summary": "This paper focuses on Guatemala’s Request for Purchase Under the Rapid Financing Instrument. The coronavirus disease 2019 pandemic is severely impacting Guatemala.",
  "sections": [
    {
      "heading": "Overview and economic impact",
      "content": "- The paper focuses on Guatemala’s Request for Purchase Under the Rapid Financing Instrument.\n- The coronavirus disease 2019 pandemic is described as \"severely impacting Guatemala.\"\n- Key domestic and external shocks cited:\n  - Faltering external demand.\n  - Declining remittances.\n  - Lockdown and social distancing measures that have disrupted economic activity and \"severely worsened external and fiscal positions.\""
    },
    {
      "heading": "IMF support objectives and expected effects",
      "content": "- IMF support under the Rapid Financing Instrument (RFI) aims to:\n  - Help address urgent balance of payments and fiscal needs.\n  - Improve confidence.\n  - Catalyze support from other external partners.\n- Authorities’ intentions to support recovery and counter future shocks include:\n  - Maintain an accommodative monetary policy stance.\n  - Maintain exchange rate flexibility."
    },
    {
      "heading": "Financial sector and credit measures",
      "content": "- Credit risk regulations have been temporarily eased to facilitate loan restructuring.\n- Authorities are:\n  - Closely monitoring banks’ exposures.\n  - Monitoring levels of provisioning to ensure the stability of the financial system."
    },
    {
      "heading": "Governance, transparency, and use of funds",
      "content": "- The Guatemalan authorities have reaffirmed their commitment to ensure that emergency financing is used:\n  - Effectively.\n  - Transparently.\n  - Through reinforced governance mechanisms.\n\n---\n\n Content in this bundle\n\n- 1gtmea2020001\n  - 1gtmea2020001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1gtmea2020001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 11, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513547251.002",
    "The paper focuses on Guatemala’s Request for Purchase Under the Rapid Financing Instrument.",
    "The coronavirus disease 2019 pandemic is described as \"severely impacting Guatemala.\"",
    "Key domestic and external shocks cited:",
    "IMF support under the Rapid Financing Instrument (RFI) aims to:",
    "Authorities’ intentions to support recovery and counter future shocks include:",
    "Authorities are:",
    "The Guatemalan authorities have reaffirmed their commitment to ensure that emergency financing is used:",
    "**1gtmea2020001**"
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