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Article Excerpt
The Honduran government will try to dodge another structural-adjustment bullet and enter into negotiations with the International Monetary Fund (IMF) in November, despite formidable internal opposition to the Fund's urgings (see NotiCen, 2003-06-12).
The chief of the IMF's technical mission, Adrianne Cheasty, told the press that, before an accord could be signed, "an adjustment is necessary. The government must find a way; if not, we cannot come to a conclusion."
The mission has been evaluating the performance of the Honduran economy and has determined that the government spends too much. Cheasty also said that the government must improve its income, which has fallen by more than US$140 million in the first trimester of this year compared with the same period last year.
The government has been looking for a way to do that for at least two years. For President Ricardo Maduro, finding a way would add US$1 billion to the country's vacant coffers, plus an additional US$950 million in forgiven existing external debt. This last figure would come to Honduras by virtue of its being...
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