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International Monetary Fund

National Accounts 1993 BOP Balance of Payments BPM4 Balance of Payments Manual , fourth edition BPM5 Balance of Payments Manual , fifth edition CBH Central Bank of Honduras COICOP Classification of Individual Consumption by Purpose CPI Consumer Price Index DOP Department of Organization and Planning DQAF Data Quality Assessment Framework DSBB Dissemination Standards Bulletin Board EDR Executive Directorate of Revenue GDDS General

International Monetary Fund

The Central Bank of Honduras (CBH) and the Secretariat of Finance (SF) broadly agree with the comprehensive assessment of the statistical system prepared by the IMF mission that visited Tegucigalpa in July 2003. The data ROSC incorporates the comments and suggestions of the experts at the CBH and the SF. Therefore, it presents an accurate description of statistical practices at that time, and we believe that its recommendations offer reasonable guidance for overcoming identified shortcomings. To address the data ROSC recommendations, the CBH has

International Monetary Fund

Republic should focus on auditing the final accounts and presenting its main findings to Congress. Institutional mechanisms should also be established to promote compliance with audit recommendations. Contents I. Introduction II. Description of Practice A. Clarity of Roles and Responsibilities B. Public Availability of Information C. Open Budget Preparation, Execution, and Reporting D. Assurances of Integrity III. IMF Staff Commentary A bbreviations and A cronyms ABL Annual Budget Law CBH Central Bank of Honduras

International Monetary Fund

observance, shown in the Report on the Observance of Standards and Codes (ROSC)—Data Module. I. N ational A ccounts 0. Prerequisites of quality 0.1 Legal and institutional environment 0.1.1 The responsibility for collecting, processing, and disseminating statistics is clearly specified The responsibility for collecting, processing, and disseminating official statistics is laid out in a series of laws and legislative decrees. The Central Bank of Honduras (CBH) has been compiling and disseminating national accounts since 1954, according to Article 25 of

International Monetary Fund

Overall Strategy In the wake of the data ROSC mission of July 2003, the CBH and the SF launched an ambitious effort to seek closer adherence to best practice in the compilation and dissemination of key macroeconomic datasets. The main compilation objective was to improve the methodological foundation and the source data of the macroeconomic statistics. As statistical improvement has a relatively long gestation period and requires sustained application of substantial resources, the authorities sought financial support from the IDB and technical assistance

International Monetary Fund
Honduras’s Report on the Observance of Standards and Codes highlights Data Module, response by the authorities, and detailed assessments using the data quality assessment framework. Meeting General Data Dissemination System (GDDS) recommendations will also require disseminating production indices. To follow GDDS recommendations and facilitate eventual subscription to the Special Data Dissemination Standard, it would be important that key agencies move in the future with plans for improvement. To participate in the GDDS, the authorities would need to appoint a GDDS coordinator and commit to follow GDDS recommendations for selected data.
International Monetary Fund

statistics ( Section III ), based on the Fund’s Data Quality Assessment Framework (DQAF) (detailed assessments are presented in a companion document); and, recommendations for improving the quality of macroeconomic statistics ( Section IV ). 2. To enrich the basis for assessment, the mission elicited the views of users of the macroeconomic statistics. With the assistance of the Central Bank of Honduras (CBH), a survey was conducted and a meeting held with selected users. Most users were satisfied with the official macroeconomic statistics, but saw scope for

International Monetary Fund
This report assesses the Observance of Standards and Codes on Fiscal Transparency Module for Honduras. Honduras has made good progress in recent years in improving fiscal transparency and the quality and internal consistency of fiscal data. The budget documentation has recently been improved and gives more complete information on the government’s fiscal activity in the framework of appropriate institutional, economic, and programmatic classifications. Recent quarterly and monthly reports make it possible to monitor financial execution of the budget and physical execution of investment projects.
International Monetary Fund

Honduran Social Investment Fund (FHIS), which executes almost 45 percent of the investment expenditures of the public sector. 7. The Central Bank of Honduras (CBH) has functional and operating autonomy for monetary and exchange policy . 18 The 1996 reform of the law regulating the CBH has modernized the bank’s functions, which are focused on monetary, credit, and exchange policy and has increased its autonomy in exercising those functions. Furthermore, since the bank no longer serves as a development bank, its relations with the Public Treasury are more strictly