Initiate meetings with the International Monetary Fund prior to review of the agreement – Ourplanet.hn

Tegucigalpa, Honduras
The public finances of Honduras will be subject to a new review. The members of the mission of the International Monetary Fund (IMF) will visit the country in the last week of this month of February.

This will be the fifth review of the agreement stand-by, signed for three years (2014-2017).

to prepare For the official visit and advance the talks for a new agreement, members of the Economic Cabinet and the executive of the IMF will hold meetings on Monday and Tuesday morning in Washington, united States.

this was announced by the coordinator of the Economic Cabinet, Wilfredo Cerrato.

"The last week of February, we drove as a tentative date, but in the meetings this week we will define," said Cerrato, the time say, "we are ready to receive them."

In this two day meeting, both parties will finalize details of the agenda that will be developed in Honduras.

New agreement
Honduras has complied with the provisions of the economic agreement with the IMF, especially in regard to fiscal discipline, for what they aim to achieve an agreement of 18 months in replacement of the current from the 4 December 2014 and expiring 3 December next.

Among the demands of the IMF, the honduran government highlights the reduction of the fiscal deficit and improving the sustainability of the public debt, in 2016 surpassed the 9,300 million dollars.

To ensure that you hold the indicators, adopted the Fiscal Responsibility Law.

In line with this restructuring of the tax administration and collection increased the tax.

Another of the big problems for the public finances was the deficit of the National Electricity Company (ENEE).

To rescue it was adopted by the General Law of the Electric Industry, increased tariffs, and was awarded the distribution system to a private operator.

there were Also massive layoffs of staff in different state enterprises, which was criticized by various sectors of the country.

Thanks to the actions, the current government managed to reduce the deficit of 7.9% in 2013 to 2.9% in 2016.

Derived from the better management of the finances were improved ratings of country risk that led to get a rate of interest in the recent placement of a sovereign bond for $ 700 million.