The same companies that had participated in two failed international tenders have submitted two bids for the repair of the El Cajon dam.
The Consortium MOS, made up of the Swiss company Rodio Swissborring and the Venezuelan Trevi Cimentaciones, the Italian Astaldi S.P.A., China's Sinohydro Corporation Limited and the Mexican Tecnosuelo S.A. de C.V. , submitted bids in the private tender conducted by Empresa Nacional de Energía Eléctrica (ENEE) for repairing cracks in the El Cajon hydroelectric station.
Coffee, shrimp, vegetables and fruits are the main products which for the past 15 years have generated increasing export volumes.
During the period 2012-13 the sector's exports have had even greater momentum, said the Agribusiness Federation of Honduras (FPX). According to Medardo Galindo, manager of the FPX, the increased demand for agricultural products due to new consumer trends in the international market.
Employers have requested that the temporary law whose validity will expire in two months be made permanent.
The Ministry of Labour and Social Security has also asked for the entry into force of the National Employment By Hours Programme which according to official statistics has reduced unemployment by 3.6%, generating about 155,000 jobs. According to Labor Minister Jorge Bográn, it is important to ensure the stability of the program, if not these positions could be lost and there would be no room for new applicants.
According to information supplied by Thompson Reuters confirmed by President Lobo, at this interest rate they received offers worth $2.5 billion, placing only $500 million.
(ARTICLE EDITED after publication)
According to information supplied by Thompson Reuters "On Tuesday Honduras released sovereign bonds worth $500 million, up to 2024 with a yield of 7.5 percent, or a difference of 547.9 base points compared to the equivalent certificates from the Treasury of the United States, published IFR, a financial information service by Thompson Reuters."
The new finance minister has announced plans to restructure Honduras’ public debt of about $5.8 billion, almost all of it in short-term format, with high interest rates.
Honduras is facing a severe debt problem which could become a disaster for their public finances.
Public debt, external and internal, had reached $5.772 billion up to December 31st, 2011 .
The Honduran Economists Association sees indicators pointing to a reactivation of the national economy.
Even before the political crisis of June 2009, the economy was dealing with the international economic crisis, which caused an 8% drop in the gross domestic product. From October 2008 to December 2009 economic activity shrank, triggering the loss of 200.000 jobs.
A "stand by" precautionary agreement and the $700 million credit line are being negotiated.
The agreement is for one year, the $700 million being contingency funds to be used only in the face if serious problems in the national economy.
LaPrensahn.com reported statements by the president of the Honduran College of Economists, CHE, Manuel Bautista: "The Government should seize the opportunities to access resources for contingency cases.