The IMF approves to extend its loan to Honduras by $ 215.8 million

Published by: MRT

Published on:

The IMF approves to extend its loan to Honduras by $ 215.8 million

Washington, Sep 13 (EFE News) .- The Executive Board of the International Monetary Fund (IMF) approved this Monday the extension of its loan to Honduras by 215.8 million dollars after a fourth review of the agreements acquired with the Government.

The IMF reported in a statement the decision to expand the amount of the loan, which with these 215.8 million amounts to 773 million dollars, as well as the extension of its duration by two months, until January 14, 2022.

The initial loan backed by Stand-by and Credit Facility agreements was about 310 million dollars, but it was already extended in May 2020, at the outbreak of the pandemic.

In addition to the new expansion, the Board of Executive Directors approved the immediate disbursement of $ 125.8 million corresponding to this increase.

The Fund said that this amount will serve to “help Honduras meet balance of payments and budget financing needs that have been exacerbated by the ongoing pandemic and tropical storms Eta and Iota.”

The Fund’s Deputy Deputy Managing Director and Acting Chairman of the Board, Mitsuhiro Furusawa, said that “the Honduran authorities remain committed to macroeconomic stability and continue to implement many of the reforms under the IMF support program.”

(c) EFE Agency

Article Source

Disclaimer: This article is generated from the feed and not edited by our team.