Honduran Congress clears way for SDR loan
Declaration of “emergency” will allow government to access $335 million held at central bank
The Honduran Congress declared a “fiscal and financial emergency” on February 15, paving the way for the state to borrow from the central bank.
The state will use the country’s stock of special drawing rights (SDRs) from the International Monetary Fund to meet pending debt payments. These SDRs currently form part of the central bank’s international reserves.
The measure also authorises the government to borrow up to $2 billion in 2022 and 2023.
La Tribuna, a Honduran newspaper, cites Hugo Noé
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