01871cas a2200241 a 4500 AALejournalIMF014897 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498323758 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Honduras : Request for a Stand-By Arrangement and an Arrangement Under the Standby Credit Facility. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (94 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The government of President Hernandez inherited a difficult macroeconomic situation upon taking office in January 2014. Economic growth decelerated significantly in 2013, driven mainly by lower private demand from policy uncertainty and by weaker trade-partner growth. The fiscal accounts weakened considerably in 2011-13, reflecting sizeable increases in government spending and in the deficit of the state-owned electricity company. The relaxation of fiscal policy has led to a rapid increase in public debt, which would continue into the medium term absent a change in economic policies. The balance of payments position has also weakened over the last three years, reflecting both expansionary macroeconomic policies and a less favorable terms of trade. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2014/361 Full text available on IMF http://elibrary.imf.org/view/journals/002/2014/361/002.2014.issue-361-en.xml IMF e-Library