Honduran Public Debt For Sale

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.

Monday, March 19, 2012

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 . Foreign debt is approximately $3.1968 billion, while domestic debt is about $2.516 billion (47.9388 billion lempiras).

This situation will be taken up in the third annual meeting of IDB governors which concludes today, March 19th in Montevideo, by the finance secretary, Hector Guillen, who is the proprietary governor of Honduras in the IDB assembly, reported Elheraldo. hn.

The government has announced plans to convert government debt and is negotiating with internal and external creditors to seek more favorable terms and better rates.



More on this topic

$60 Million Approved for Public Infrastructure

October 2018

The Inter-American Development Bank loan will be used to finance wastewater projects in Honduras, sewerage works, construction of sports infrastructure, and other works.

On October 10th, the Congress of Honduras approved a $60 million loan from the Inter-American Development Bank (IDB), to be paid over 25 years at an annual interest rate of 0.25%.

El Salvador: $350 million to Cover Fiscal Deficit

June 2018

El Salvador's Congress approved an IDB loan of $350 million to finance the government budget deficit at a 3.25% rate.

The president of the Legislative Assembly, Norman Quijano, stated that " ..." with the conditions offered by the IDB we will have an interest rate estimated at 3.25%, with the bonds we had an average rate of 7 and 8%, the reduction of interests will mean a saving of tens of millions of dollars for the country.' "

Will Honduras' Foreign Debt Be Forgiven Again?

November 2013

As of September 2013 the Honduran government owes ​​almost $5.7 billion, more than the $4.8 billion that the country owed when the Paris Club and the IDB decided to forgive $3.5 billion.

Latribuna.hn reports that "During the government of Ricardo Maduro (2002-2006), Honduras reached the culmination point of the Initiative for Highly Indebted Poor Countries (IPPAE) and managed to get a remission of 2 billion dollars.

El Salvador to Sell $1.8 Billion in Bonds

May 2009

The Salvadoran Congress approved a financial plan to meet debt payments.

The plan envisages the sale of $1.8 billion in global bonds and the reorientation of $950 million in World Bank and IDB loans to make payments on short-term debt.

With the bond sale, the country seeks to restructure its debt so that it depends more on the long rather than the short term.

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