Honduras: Private Sector Reports Losses

After more than 40 days of protests and looting, Honduran businessmen report that about 50 companies have been affected, and several stores have already been closed.

Friday, June 21, 2019

Preliminary reports from the Chamber of Commerce and Industry of Tegucigalpa (CCIT), establish that among the most affected businesses are supermarket chains, appliance stores, fast food restaurants and microenterprises dedicated to the marketing of clothing and footwear.

You may be interested in "Protests and Vandalism in Honduras

Guy de Pierrfeu, president of the CCIT, told Elheraldo.hn that "... There is still no way to have definitive figures, but the GDP of Honduras is approximately 1,570 million lempiras per day and the accumulated losses of today are immense. We've already had more than 40 days of demonstrations."

Pierrefeu added that "... Many companies are closing or else laying off human resources because they don't have the economic activity to sustain them. It is sad and serious that the political ambitions of some people are leading the country to chaos, to a situation of ungovernability, to a situation where more and more is being lost."

The first demonstrations were reported at the end of May, when after the Honduran Executive approved decrees PCM-026-2018 and PCM-027-2019, the country's doctors and teachers began protests with the aim of repealing them, arguing that through them government personnel could be fired and public services privatized.

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In the context of the protests and blockades that have been affecting Costa Rica for several days, the businessmen denounce that there are millions of losses, mainly in tourism, exports, and agricultural, industrial and commercial activities.

The protests that began last week and intensified on June 28, when students and teachers from at least 232 schools blocked several routes in the country, are caused, according to their participants, by young people objecting to issues such as dual education, neutral bathrooms, FARO tests or purchase of drones for agricultural schools.

Protests and Vandalism in Honduras

June 2019

The business sector is concerned about the way in which the demonstrations have developed in recent days, generating "an unsustainable cost to the Honduran economy.”

After the Honduran government approved decrees PCM-026-2018 and PCM-027-2019, the country's doctors and teachers began demonstrations with the aim of repealing them, because they argue that they will be able to fire government employees and privatize public services.

Strike, Blockades and Tourism

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After nine days of strikes by public officials in Costa Rica, tour operators, hotels and restaurants in different parts of the country are reporting that reservations are being cancelled and sales are plummeting.

The strike being promoted by the country's public unions started on Monday, September 6, and has already caused millions of dollars worth of losses due to multiple road blocks and acts of sabotage in the fuel distribution chain, among other coercive measures. 

Political Uncertainty and Economic Losses

December 2017

Nine days after the presidential elections in Honduras an official winner has still not been announced, and the business sector estimates that the losses caused by looting, violence and paralyzed activities amount to $50 million a day.

Blockades in the main roads of the country, demonstrations, looting of businesses and widespread violence is what can be seen in some areas of Honduras, eight days after the disputed presidential elections. 

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