Tegucigalpa, Honduras.
The International Monetary Fund (IMF) approved this Monday the third revision of the agreement with Honduras under the Stand-by mode, which will allow access to $ 88 million to attend to the reconstruction of the country after the passage of storms Eta and Iota, as well as the crisis by the pandemic of the COVID-19.
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Wilfredo Cerrato, president of the BCH |
“There is good news for the country,” said the president of the Central Bank and coordinator of the Economic Cabinet. Wilfredo Cerrato: “At 11:00 in the morning, Honduras time, the session of the IMF board ended where the third revision of the Monetary Program in Honduras and the IMF was discussed, and this revision has been approved again.”
I asked that “this does not mean doing it, but we must manage the economy in an orderly and very diligent, fast and transparent manner.”
Related: Economic activity in Honduras fell by 8.4% until October due to the covid-19
Honduran analysts agree that the reconstruction of Honduras after the passage of the storms and even with the health emergency, is a “fairly large” area that requires the coordination of the Government and donor agencies, as well as the support of other institutions at the international level.
In turn, it will be emphasized that the impact of the damage it will leave in early November and Iota two weeks later, “is very serious, very strong” and will further exacerbate poverty levels in the country, where more than 60% of its 9.5 million inhabitants are poor.
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Minister Marco Midence |
“This is a great support for the current administration and the need for funds for the country’s reconstruction issues. Multilateral agencies recognize that Honduras, despite the challenges of 2020, continues to do things in order, “he said.
Besides: Juan Orlano Hernández again asks Honduras to access the green background
For his part, the head of the Ministry of Finance, Marco Midence, said that this approval of the economic program under the Stand-by mode “means a backlash and access to resources for rehabilitation, is great news in the midst of the pandemic.”
The official also says that “he will have access to an equivalent of 88 million dollars.” He is expected to issue an official statement on Monday.
The initial agreement with the IMF data for July 2019 and was for a total of $ 311 million. This agreement will be reviewed for the first time in December last year and again in June 2020, amid the damage caused by the new coronavirus pandemic, which slowed the Honduran economy.
Support in times of crisis
Over the weekend, at the 2020 Climate Ambition Summit, Honduran President Juan Orlando Hernández once again called on the nations of the world to access the Green Climate Funds and invited them to come to Honduras to learn about the reality they face later. devastating passage of storms Eta and Iota.
“This is the right scenario to ask for the right thing to be done, while I have been president of my country in all my speeches we have requested the same thing and we have not been heard. The Green Funds for the Climate do not arrive as they should and this can only be done with their intervention and good will “, the president explained in his speech virtually to the participants in the Summit.
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Juan Orlando Hernández, President of Honduras |
“You can create an emergency window with funds available, in a more simplified way of acquisition, without so much bureaucracy and immediately accessible to countries like ours that are constantly suffering the effects of climate change,” he said. Honduran ruler.
The United Nations, the United Kingdom and France, in partnership with Chile and Italy, convened the 2020 Climate Ambition Summit, which will bring together leaders from different fields willing to make new commitments to tackle climate change and comply with the Paris, five years after its adoption on December 12, 2015.
At this 2020 meeting, the countries established new and ambitious commitments under the three pillars of the Paris Agreement, which are mitigation, adaptation and financing.