The IMF and Honduran authorities reached a staff-level agreement on policies and reforms to complete the first and second reviews of Honduras’ IMF-supported program. Despite global challenges and the impact of El Nino, the Honduran economy remains resilient, with growth projected at 4% in 2024, while inflation has stabilized between 4.5% and 5%. However, international reserves have declined due to agricultural export disruptions, increased energy imports, and lower-than-expected financing support.