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Honduras wins breathing space from $196 million

Monday, September 13, 2010

Honduras received a $196 million standby arrangement from the International Monetary Fund to cover the government’s finances over the next 18 months.

The president of the central bank, María Elena Mondragón, recognized that the accord “will definitely give us a breathing space, faced with the serious fiscal difficulties we’ve been facing.”

Successive Honduran governments have faced financial problems that have been aggravated by the international crisis and last year’s coup.

Original source (in Spanish): Efe