TY - BOOK ID - 138376441 TI - Guatemala : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Guatemala. PY - 2020 SN - 1513547267 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Balance of payments. KW - Balance of payments assistance KW - Balance of payments KW - Banking KW - Banks and Banking KW - Banks and banking KW - Banks KW - Communicable diseases KW - Covid-19 KW - Credit KW - Current Account Adjustment KW - Debt Management KW - Debt KW - Debts, Public KW - Depository Institutions KW - Diseases: Contagious KW - Exports and Imports KW - Government debt management KW - Health Behavior KW - Health KW - Infectious & contagious diseases KW - International economics KW - International finance KW - Macroeconomics KW - Micro Finance Institutions KW - Monetary economics KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Money and Monetary Policy KW - Money KW - Mortgages KW - Public debt KW - Public finance & taxation KW - Public Finance KW - Remittances KW - Short-term Capital Movements KW - Sovereign Debt KW - Guatemala UR - https://www.unicat.be/uniCat?func=search&query=sysid:138376441 AB - This paper focuses on Guatemala’s Request for Purchase Under the Rapid Financing Instrument. The coronavirus disease 2019 pandemic is severely impacting Guatemala. Faltering external demand, declining remittances, and the necessary lockdown and social distancing to contain the virus, have disrupted economic activity and severely worsened external and fiscal positions. IMF support under the Rapid Financing Instrument will help address the urgent balance of payments and fiscal needs, improve confidence, and catalyze support from other external partners. In order to support the recovery and counter future shocks, the authorities intend to maintain an accommodative monetary policy stance and exchange rate flexibility. While credit risk regulations have temporarily been eased to facilitate loan restructuring, the authorities are closely monitoring banks’ exposures and the levels of provisioning to ensure the stability of the financial system. The Guatemalan authorities have reaffirmed their commitment to ensure that emergency financing is used effectively, transparently, and through reinforced governance mechanisms. ER -