Honduras Freezes Payments to CABEI

The Government officially announced they are suspending payments to the Central American Bank for Economic Integration on their $405 million debt.

Tuesday, January 12, 2010

They also announced they will initiate legal action against CABEI, but this still needs to be authorized by Congress.

"Gabriela Núñez, Finance Minister, explained the decision was taken because the Bank suspended loans and disbursements to Honduras after the political events of June 28th, 2009. ... They are respecting their obligations with all other international financial organizations".



More on this topic

CABEI Resumes Operations With Honduras

January 2010

CABEI announced it will resume operations with the country's private sector, which were suspended on June 28th, 2009.

The leaders of the Central American Bank for Economic Integration (CABEI) also announced they will start reviewing those disbursements earmarked for the public sector.

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).

Honduras Suspends BCIE Payments

August 2009

The Government made a formal communication to the Central American Economic Integration Bank, reporting it won't pay commitment fees for loans.

Gabriela Núñez, Finance Secretary, remarked: "We demand a responsible attitude by BCIE. They must release a formal communique stating their position towards Honduras".

Pressure on BCIE for Resolving Honduras Situation

August 2009

The Honduran government asked the Central American Economic Integration Bank to quickly and favorably resolve the financial relationship, suspended after Zelaya's deposition.

Warning that "a long time has gone by without a decision by BCIE", Honduran Finance Ministry Gabriela Núñez insisted that if the Central American Economic Integration Bank (BCIE) does not resume its normal relationship by giving out loans already scheduled and others under study, Honduras may resign from the financial entity.

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