"The attitude of Congress is irresponsible in dealing with these issues without beforehand consulting taxpayers who pay for these commitments with their taxes , nor conversing with civil society organizations," said Fernando Garcia, director of the National Association of Manufacturers (Andi).

"It seems that the government through this situation will mortgage mineral deposits and the country's natural resources," reports Elheraldo.hn. The recent law, aims to raise funds and pay for the country's domestic debt, amounting to $3 billion.

"We are concerned and do not understand why this policy is linked to the granting in concession of all of the country's natural resources and neither do we understand why they need these financial resources," Garcia said.

Source: elheraldo.hn

More on this topic

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November 2018

At the end of the third quarter of the year, the total public debt of the country's Central Administration amounted to $11.002 million, 3% more than that reported in the same period of 2017.

During 2018, the total public debt balance of the Central Administration of Honduras reached US$11,002.8 million, which represents an increase of 0.13% with respect to the Second Quarter of 2018.

Costa Rica Expects to Issue More External Debt

July 2017

The government is preparing a bill for the Assembly to authorize a debt issue on the international market next year.

The Ministry of Finance is considering raising money abroad in order to avoid pushing interest rates up in the local market. If the Legislative Assembly approves the bill, the government will turn to the international market to raise the 1.2 trillion colones that it needs to pay for domestic debt securities due next year.

El Salvador: Significant Progress on Fiscal Matters

November 2016

The government and the opposition have finally reached an agreement and approved the Fiscal Responsibility Law along with the issuance of $550 million in debt securities.

The issuance authorized by the Assembly may be made on the international or local market, and funds will be used to pay principal and interest on short-term debt, budget support and strengthening of the Fiscal Fund at the General Treasury of the Republic.

El Salvador: Businesses Demand Fiscal Responsibility Law

June 2014

The private sector demands limits on the government's ability to borrow, through means of a Fiscal Responsibility Law.

From a press release issued by the Chamber of Commerce and Industry of El Salvador (Camarasal):

The Camarasal has expressed dissatisfaction with the fact that the Legislature has authorized the government to issue a new bond debt for $1.156 million, without having first limited the state's debt capacity through the adoption of a Fiscal Responsibility Law.