IMF praises Guatemala’s efforts in fourth review of standby arrangement

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