Political Uncertainty and Economic Losses

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.

Tuesday, December 5, 2017

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

Laprensa.hn reports that "...With a state of siege, growing tension and police groups that refuse to obey their superiors and repress protesters, Honduras continues to face uncertainty over who will be its president in the coming years, as no official winner has been declared."

"... Due to the looting suffered by several companies, in addition to the low sales and the lack of time to comply with some commitments, the private sector is reporting multi million dollar losses that put hundreds of jobs at risk. Pedro Barquero, executive director of the Chamber of Commerce and Industries of Cortés, estimated that nearly $50 million per day has been lost due to suspension of activities."

Mario Canahuati, president of the Honduran Association of Maquiladoras said that "... as a productive sector they have large delivery commitments with the United States, both textile maquilas and electrical harnesses, which could be affected by the loss of working hours. 'There is no doubt that we are highly concerned, this political element is having very serious consequences' ... ".

See executive decree on new curfew hours imposed by the Hernández administration (in Spanish).

More on this topic

Honduras: Private Sector Reports Losses

June 2019

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.

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.

Proposal to Bring Forward Presidential Elections

May 2018

In search of a solution to the crisis that has Nicaragua on tenterhooks, the business sector has asked Ortega to bring forward presidential elections in an orderly manner and with a renewed Electoral Council.

In a letter signed by the main Nicaraguan business leaders, the private sector demands that President Ortega stop the violence against the demonstrators and call presidential elections early, as a last step to begin to solve the crisis in which the country has been immersed since mid-April.

Elections and Political Uncertainty

November 2017

Three days after the presidential elections in Honduras, all of the votes have not yet been counted, and as tension escalates, businessmen request political leaders to recognize the results declared by the Electoral Tribunal.

The most recent data published by the Supreme Electoral Tribunal of Honduras shows that as of Tuesday, November 28, only 59% of the Receiving Electoral Tables (MER in Spanish) had been processed.

Honduran Businesses Ask for Election Results To Be Abided By

November 2013

The Honduran Council of Private Enterprise has called on political parties to respect the results of the elections held in the country.

"The private sector is calling on leaders of political parties to exercise leadership and make a call to their bases so that tolerance and respect for the law prevails," said the Honduran Council of Private Enterprise (Cohep) .

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