Guatemala: Request for Stand-By Arrangement-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guatemala
IMF Staff Country Reports, May 12, 2009
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- Canonical URL
- Guatemala: Request for Stand-By Arrangement-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guatemala
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Bibliographic details
- Authors: Arrangement-Staff Report
- Published: May 12, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816679.002
Summary and Program Purpose
- The Guatemalan authorities requested an 18-month Stand-By Arrangement (SBA).
- Total access under the SBA: SDR 630.6 million (about US$951 million).
- Purpose: support the authorities’ policies and provide insurance against significant downside risks.
Macroeconomic Context and Vulnerabilities
- Guatemala has a strong track record of macroeconomic stability.
- The economy is open and hence vulnerable to external shocks.
- The authorities have taken a number of upfront measures to mitigate the impact of the external shock and preserve macroeconomic stability.
Program Support and Rationale
- The program will support the authorities’ policies.
- The SBA is intended to provide insurance against significant downside risks arising from external shocks.
Subject Areas and Keywords (as listed)
- Subject: Banking, Commercial banks, Credit, Economic sectors, External debt, Financial institutions, Money, Public debt, Public sector
- Keywords: authorities' priority, Commercial banks, CR, Credit, fund, Global, government plan, GRA credit, Guatemala, inflation-targeting framework, ISCR, policy, prudent fiscal policy, Public sector, staff monitoring