Henry Ma, resident representative of the International Monetary Fund (IMF) in Honduras, issued the following statement today in Tegucigalpa:

“An IMF staff team will visit Honduras during February 28–March 11 to conduct the first review of performance under the program approved by the Executive Board of the IMF on October 1, 2010. The mission will assess performance through end-December and update macroeconomic projections and the framework for economic and financial policy in 2011.

“The 18-month program for Honduras aims to support the country’s efforts to restore macroeconomic stability and advance economic reforms consistent with Honduras’s poverty reduction and growth objectives. Support is being provided with a blend of resources in the amount of SDR 129.5 million (about US$203 million) from two IMF credit lines, the Stand-By Arrangement (SBA) and the Standby Credit Facility (SCF).

“The mission will issue a brief statement at the end of its visit.”