Honduras Hopes for Reactivation of Credit

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

Tuesday, November 3, 2009

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.

Amílcar Bulnes, president of the Honduran Council for the Private Enterprise (Cohep), argued about the "need to not mix political conflicts with economic matters. Bulnes declared that, if so is decided, Honduras could remain a member of Petrocaribe. Its participation was suspended by Venezuela on June 28".



More on this topic

IDB Resumes Financing For Honduras

March 2010

The board of directors of the IDB has decided to resume relations with Honduras.

In a few days, the Inter-American Development Bank will send a mission to Honduras, which could announce the portfolio of joint projects for 2010.

"Most multilateral financial institutions such as IDB, the World Bank and the IMF suspended relations with Honduras after the political crisis", reported Laprensagrafica.com.

IMF Mission Will Evaluate Honduran Economy

March 2010

From March 15 to 25, the International Monetary Fund (IMF), will evaluate the country’s economy in the wake of 2009’s political crisis.

After this assessment, the IMF may reach an agreement with the Government for a loan or some sort of cooperation, explained María Elena Mondragón, president of the Central Bank.

45 Projects Paralyzed by Political Crisis

October 2009

$684 million in projects are on hold in Honduras, due to IDB and WB freezing financial cooperation with the country.

38 projects are awaiting $456.7 million in funding from the Inter-American Development Bank. Likewise, the World Bank has 17 active projects, with $227.4 million to be disbursed.

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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