Honduran finance minister quits after country fails to meet Fund monetary targets

Honduras' finance minister resigned yesterday after the International Monetary Fund said the country did not reach its deficit and monetary targets for 2011.

The country's president, Porfirio Lobo, accepted the resignation of William Chong Wong who had served as finance minister since the beginning of his administration in 2010.

The minister's resignation comes at a time when Honduras is negotiating a new 18-month stand-by agreement with the IMF to replace the current one expiring in March.


Source: Reuters