Honduran Businessmen Demand BCIE Money

Businesses recommended the Government to withdraw funds contributed by Honduras to BCIE's capital.

Thursday, July 30, 2009

Such action is demanded in response to a decision by the Central American Economic Integration Bank (BCIE) to freeze funds headed to the country, a move deemed as "outrageous" by Amilcar Bulnes, president of the Honduran Council of the Private Enterprise.

"Honduran is a founding member of BCIE, and as such has money in the bank's capital. It is also a client, and has deposits by social security entities", reported Proceso Digital.

More on this topic

Honduras Hopes for Reactivation of Credit

November 2009

After the political agreement, the country hopes to restore international loans and cooperation estimated at $739 million.

The financial blockage was imposed by the United States, the European Union and Venezuela, together with financial institutions such as IMF, WB, IDB and CABEI, after the political events of June 28th.

Honduran Businesses Asses Aid Cutoff

September 2009

Businessmen analyzed short-term action plans in the light of measures announced by the United States.

Businessmen from different sectors requested the government legal instruments for creating jobs, such as the Temporary Jobs Law.

Amílcar Bulnes, president of the Hondural Council of the Private Enterprise (Cohep), remarked that "the government must provide legal instruments, and the private sector will do the rest".

Honduran Government Withdraws Funds From BCIE

September 2009

The government ordered private banks to withdraw deposits from the BCIE in a 20 day period.

Sandra de Midence, President of the Central Bank of Honduras (BCH), reported that Honduran banks have $60 to $70 million deposited at the Central American Economic Integration Bank (BCIE).

60% increase in minimum wages in Honduras

January 2009

Businessmen point to negative effects due to the measure, such as the loss of competitiveness because of cheaper labor in neighboring countries such as El Salvador, Nicaragua and Guatemala.

According to elsalvador.com, "workers who earn 3,400 lempiras (some $170) will now earn 5,500 lempiras (some $300).

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