IMF Praises Guatemala Economy

The IMF says it has concluded the third review of Guatemala’s economic performance under a program supported by an 18-month stand-by arrangement (SBA) approved in April. The SBA amount is $927.2m. With the completion of this review, about $865.4m is available for drawing. “Performance under the program has been strong. All end-December 2009 and end-March 2010 quantitative performance criteria were met comfortably, and inflation stayed within the inner consultation band agreed in the program. The 18-month SBA with the fund is expected to remain precautionary,” the IMF says.