IMF praises Guatemala’s efforts in fourth review of standby arrangement
Wednesday, September 29, 2010
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The Executive Board of the International Monetary Fund (IMF) on September 28 concluded the fourth review of Guatemala’s economic performance under a program supported by an 18-month Stand-By Arrangement.
According to ADB, the arrangement, in the amount equivalent to SDR 630.6 million (about $974.7 million) was approved on April 22, 2009. The Guatemalan authorities intend to continue treating the arrangement as precautionary.
Murilo Portugal, Deputy Managing Director and Acting Chair, stated: “Guatemala’s economic recovery has continued despite the natural disasters that hit the country in May.
Original source: The Financial