(Associated Press) The International
Monetary Fund has approved a $935 million
stand-by credit line to boost Guatemala's
access to credit as the global economic
crisis slows lending.
The IMF said Thursday that Guatemala has a
"strong track record" of reforming its
economy and will only tap the funds if
needed.
The 18-month credit line is meant to promote
investor confidence in Guatemala, which has
seen a sharp drop in money sent home by
migrants in the U.S. Exports are also
falling.
The IMF says that low levels of public debt
will allow Guatemala to boost spending on
infrastructure projects and social programs
while keeping an inflation target of 4
percent.
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