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Regional Economic Outlook

October 2021 Regional Economic Outlook for Western Hemisphere - Cover

Western Hemisphere

Regional Economic Outlook
April 2022

The war in Ukraine is shaking the world economy and raising uncertainty about the outlook for Latin America and the Caribbean. Even before the war, the region’s recovery from the pandemic was losing momentum and growth is returning to its pre-pandemic trend rate of around 2.5 percent for 2022. The war brings a further shock to inflation, and policymakers across the region have reacted decisively by tightening monetary policy and implementing measures to soften the blow of higher food and energy prices on the most vulnerable—thus mitigating the risks of social unrest. Rising interest rates complicate the management of already high debt levels, and an escalation of the war could further tighten financial conditions in the region. In this context, an inclusive fiscal consolidation strategy would maintain support for the vulnerable while helping rebuild buffers.

Read more: Regional Economic Outlook for the Western Hemisphere, April 2022

This web page presents information about the work of the IMF in Central America, Panama and the Dominican Republic, including the activities of the IMF Regional Representative Office. Additional information can be found on the IMF country pages of the enlarged Central American region (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama), including official IMF reports and Executive Board documents in English and Spanish that deal with Central America as a region and with each of its countries.

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At a Glance

  • CA-7: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Dominican Republic
  • Costa Rica Joined the Fund on January 08, 1946
  • El Salvador, Nicaragua, and Panama Joined the Fund on March 14, 1946
  • Dominican Republic and Guatemala Joined the Fund on December 28, 1945
  • Honduras Joined the Fund on December 27, 1945
  • Total Quotas: Net cummulative allocation SDR 1,230.60 Million; Holdings: SDR 1,027.62 Million
  • Loans outstanding: ECF arrangements (Honduras and Nicaragua) SDR 132.54 Million;
  • Stand-by Arrangements (Dominican Republic) SDR 703.76 Million

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IMF's Work on Central America 

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