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International Monetary Fund. Western Hemisphere Dept.

both arrangements by about US$223 million (SDR 162.37 million), bringing combined total access under the SBA and SCF arrangement to about US$531 million (SDR 387.19 million, 155 percent of quota). The completion of the reviews will release about US$233 million (SDR 169.864 million), to help Honduras meet urgent balance of payments and fiscal financing needs stemming from the COVID-19 pandemic, including increased health care and social spending. In late March, to support the policy response to the crisis, the authorities decided to draw on available Fund resources

International Monetary Fund. Western Hemisphere Dept.

First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras

International Monetary Fund. African Dept.

to revise the property tax law and improve the timeliness of public reporting on budget execution are taking longer than anticipated. Program summary The existing PSI and new SCF arrangement will support the country’s efforts to address growing external imbalances, thereby supporting continued strong growth and durable poverty reduction. The SCF arrangement adds a financing component to the existing PSI-supported program, which aims to promote private-sector led growth through safeguarding macroeconomic stability, including through external sustainability