Excessive Regulation of Financial Activities?

A banker says that due to government financial regulations, in Honduras "it is now easier to import than it is to cultivate and produce."

Wednesday, July 24, 2013

Proceso.hn reports that "Excessive government regulations are preventing banks from lending money to promote production, as they has to deal with rules made for the first world even though Honduras is a fourth world nation, said the banker Jaime Rosenthal."

"... banks can not use the money they have to fund economic activity, as it is the National Commission of Banks and Insurance (CNBS) which regulates the activities they fund and for this reason it is now easier to import than it is to cultivate and produce in Honduras. "

"... Governments are not aware of the basics of the economy and have done little to generate growth in production and are only focusing on political activity."

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