Honduras names new finance minister after scandal

Reuters News
Posted: Aug 09, 2012 11:56 PM

TEGUCIGALPA (Reuters) - Wilfredo Cerrato was named Honduras' new finance minister on Thursday, replacing Hector Guillen who resigned last week after his wife was arrested with the equivalent of more than $57,600 in her vehicle.

Cerrato, a 41-year-old economist, is the third finance minister in President Porfirio Lobo's 2 1/2-year-old government.

His main challenge will be to arrange a new stand-by agreement with the International Monetary Fund, which is concerned by the government's failure to meet fiscal deficit goals tied to a similar 18-month agreement that expired in March.

Guillen resigned on August 1. He said the money his wife was carrying was a loan that she planned to use to pay bills related to a bed business she owns.

(Reporting by Gustavo Palencia; Writing by Elinor Comlay; Editing by Anthony Boadle)