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Cerrato named as new finance minister for Honduras

Friday, August 10, 2012

Wilfredo Cerrato was named Honduras' new finance minister on Thursday, replacing Hector Guillén who resigned last week after his wife was arrested with the equivalent of more than $57,600 in her vehicle.

Cerrato, a 41-year-old economist, is the third finance minister in President Porfirio Lobo's two and half years in office.

His main challenge will be to arrange a new stand-by agreement with the International Monetary Fund, which is concerned by the government's failure to meet fiscal deficit goals tied to a similar 18-month agreement that expired in March.

Source: Chicago Tribune