Guatemala Gets IMF Stand-By

Guatemala Gets IMF Stand-By

Central America

The IMF has approved a $935m stand-by agreement for Guatemala, equivalent to 300% of quota. The Guatemalan authorities intend to treat the arrangement as precautionary, meaning that they do not intend to draw on the fund’s resources unless the need arises, the fund says. “The authorities’ fiscal program aims to provide some stimulus to the economy and protect the most vulnerable segment of the population,” says IMF deputy MD Murilo Portugal. The 2009 budget envisages higher spending on labor-int

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