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International Monetary Fund approves $202 million credit line for Honduras

Monday, October 4, 2010

The International Monetary Fund approved the granting of a credit line of $202 million for Honduras, in a 18-month program will serve as a contingency plan to restore its weak finances public.

The funds were approved at a meeting of the Fund’s Executive Board, following the agreement reached last September 10 in Tegucigalpa.

The amount approved today exceeds $6 million agreed to last month, due to currency fluctuations that make up the virtual currency with which the Fund measures its credit, Special Drawing Rights.

Original source: Efe