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International Monetary Fund. Fiscal Affairs Dept.
This report evaluates Honduras’s fiscal transparency practices in relation to the IMF Fiscal Transparency Code (FTC). Honduras’s score is similar to those of other Latin American countries and emerging market economies that have undergone the evaluation. In relation to the fiscal transparency principles, Honduran practices are considered basic in 15 areas; good in seven areas; and advanced in six areas. Fiscal transparency practices in the area of fiscal forecasting and budgeting are the strongest, while the fiscal risk analysis and management practices are the weakest. Finally, Honduras’s current fiscal transparency practices fall short of the FTC principles in eight areas.
International Monetary Fund. Fiscal Affairs Dept.
This report evaluates Honduras’s fiscal transparency practices in relation to the IMF Fiscal Transparency Code (FTC). Honduras’s score is similar to those of other Latin American countries and emerging market economies that have undergone the evaluation. In relation to the fiscal transparency principles, Honduran practices are considered basic in 15 areas; good in seven areas; and advanced in six areas. Fiscal transparency practices in the area of fiscal forecasting and budgeting are the strongest, while the fiscal risk analysis and management practices are the weakest. Finally, Honduras’s current fiscal transparency practices fall short of the FTC principles in eight areas.
International Monetary Fund. Western Hemisphere Dept.
The near-term outlook has worsened, while a recovery is expected for next year. Amid a weak health system and a surge in infections over the summer, the gradual reopening of the economy has faced setbacks and the pandemic is having a stronger and more protracted social and economic impact than expected. While the policy response to the Covid-19 shock was appropriately designed, there have been implementation challenges and delays. The authorities’ monitoring system of pandemic-related spending and civil society oversight helped identify missteps to implement corrective actions, for which they are receiving technical assistance from FAD and the Inter-American Development Bank (IDB). More recently, Honduras is also facing the challenge to respond to two tropical storms, which the authorities intend to manage within the contour of the current economic program.