Honduras: Threats to Stop Government Projects

Construction companies are threatening to paralyze public works due to the government´s default in the payment of nearly $ 52 million.

Wednesday, March 9, 2011

The Honduran Chamber of Construction is inviting its members to a meeting next week to discuss the situation.

"The debt comes from projects executed for the Social Investment Fund (FHIS), the Department of Public Works, Transportation and Housing (Soptravi) and the Road Fund, most of which already have been completed or are in their final stage," Elheraldo.hn reported.

More on this topic

$40 million in Funding for Road in Guatemala  

July 2013

The Brazilian Development Bank has loaned $40 million to be used for the expansion of the Cocales-Tecum Uman highway to four lanes.

According to Alejandro Sinibaldi, Guatemalan Minister of Communications, this money is in addition to $40 million which the Central American Bank for Economic Integration (BCIE) has already granted to the ministry.

Fomilenio II to Contribute $50 million

October 2012

Private investment projects taking place in the coastal area of El Salvador will be supplemented by $50 million in additional projects.

An article in Laprensagrafica.com quotes the U.S. ambassador in El Salvador, Mary Carmen Aponte, reaffirming U.S. support through the Millennium Fund.

Defaults Threaten Companies

June 2012

A dozen medicine suppliers plan to close operations because of the considerable delays in payment for services by the government of El Salvador.

"At least 12 companies, including medium and small sized ones, are planning to close operations in the remainder of this year due to a lack of working capital because of the government defaults that are already half a year late.

Government of El Salvador Behind in Payments

May 2012

The delays in payments by several government institutions to private providers amounts to six months, and it is unknown when those companies will receive their payments.

Among the companies affected by not having received payment for goods and services rendered to the State are those related to distributors of medicines, different types of raw materials, construction, and building leasing where some offices of the Police and the Attorney General, are located, among others.

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