IMF mission arrives in Honduras to evaluate its economy

A technical mission of the International Monetary Fund (IMF) began yesterday with a series of meetings with Honduran authorities to evaluate its economy.

The delegation, headed by IMF Western Hemisphere Department economist Joyce Wong, will remain in the country for two weeks in meetings with various sectors.

This day at the Government House, they met with the economic cabinet where the opening is made.

Then meetings are held with each of the institutions of the financial system, banking, and private sector, said the president of the National Commission of Banks and Insurance (CNBS), Marcio Sierra.

Subsequently, the mission will make its conclusions and report its visit, as is usually the case.

A team from the multilateral organization stayed from September 26 to October 5, 2022 as part of the negotiations for a new agreement, but no progress has been made since then.

Sierra said the IMF would evaluate more than 20 indicators, and each entity must dialogue with the representatives.

For his part, the Secretary of the Presidency of Honduras, Rodolfo Pastor de María, indicated that “the IMF is a partner for the development of countries, and we want it to continue to be a partner for Honduras, but we have also made it clear to the representatives of the Fund, with whom we met, that we need this to be in the interests and for the benefit of the Honduran population”, emphasized Rodolfo Pastor.

Negotiations with the IMF began in 2022 and are at an advanced stage, according to the president of the Central Bank of Honduras (BCH), Rebeca Santos, after the IMF’s annual spring meetings in Washington.

President Xiomara Castro’s administration seeks a Stand By agreement with the organization while applying measures to keep economic growth afloat, projected between 3.5 and 4.0 this year.

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