Honduras: Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries—Staff Report; Staff Statement; Press Release on the Executive Board

Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Honduras

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 048

Publication date: February 2006

ISBN: 9781451817188

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Topics covered in this book

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Banks and Banking , Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , policy , staff appraisal , government , Honduras' request , report , Honduran authorities , policy-based loan , Honduras government , wage policy reform , Public sector , Poverty reduction strategy , Central America

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Summary

Honduras’s request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries is discussed. The social consultation has allowed the government to implement a vital reform of public sector wage policy. A reduction in the pressure of the civil service wage bill is the key for restoring the sustainability of the public finances. An ambitious financial sector reform is designed to address bank fragilities; and far-reaching transparency and anti-corruption measures aim to improve governance.