The Central American Bank for Economic Integration has announced that this month it will deliver 55% of the funds required to implement the customs union between the two countries.
The funds pending for the implementation of the Customs Union between Guatemala and Honduras are being managed by the Central American Bank for Economic Integration (BCIE) for a total of $1.5 million for delivery in February.
Between October 28th and 30th, Guatemala City will host a meeting between businessmen from various productive sectors in Spain and representatives from Central American companies.
This multilateral meeting aims to find business opportunities in the energy industry, transport, water and real estate development, among others.
With $300 million in funding from the BCIE payments will be made on domestic debt which is currently concentrated in the welfare institutes which will be able to invest in productive projects.
Welfare institutes of the public pensions administrators are creditors of 64% of domestic debt issued by the State and as the average term to maturity of this debt is 2.7 years, the government will seek to refinance at longer terms and with more favorable interest rates.
Despite the recommendation of the IMF's to make the exchange rate flexible, the government program forecasts that the Lempira will slip between 4.5% and 5% over the next four years.
Just as it did at the end of 2012, the IMF has again recommend that policymakers devalue the local currency, the Lempira, in order to minimize the negative effects of the growing fiscal deficit, which to date is equivalent to 68 % of GDP.
The company reported government problems in the financing of hydroelectric projects Llanitos and Jicatuyo, which were to have been built by the Brazilian company.
The Honduran government never disbursed the $100 million it was to contribute towards building dams on the Ulua River in the department of Santa Barbara, said Brazilian Ambassador to Honduras, Zenic Krawctschuk.
On 22nd and 23rd of May next year the second edition of the trade fair dedicated to businesses in the agricultural sector will be held in San Pedro Sula.
From a press release issued by Agromercados.hn:
The second edition of Agromercados-Honduras 2014, will be held on 22nd and 23rd May 2014, at Expo-Center San Pedro Sula, in which the Organizing Committee has organized the participation of national, regional and international buyers, 150 exhibitors, 500 business meetings, 20 Lectures, given by experts renowned nationally and internationally on issues such as: Agricultural Health, Agribusiness, Finance, Marketing and others.
The European Investment Bank will support investment in hydropower, wind, geothermal and photovoltaic systems in Central America.
The program is being conducted in partnership with the Central American Bank for Economic Integration (BCIE) and seeks to free up more than $500 million for investments in public and private projects using clean energy in Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama.
The projects Jicatuyo, Los Llanitos and El Aguán, with a combined potential of 600 MW, have become stalled because the state can not provide its share of funding.
Laprensa.hn reports that "... Jicatuyo and Los Llanitos, in the department of Santa Barbara, were identified 32 years ago. When Congress approved their construction in 2009, it said it would be ready in four years, to date, progress is zero. "
According to information supplied by Thompson Reuters confirmed by President Lobo, at this interest rate they received offers worth $2.5 billion, placing only $500 million.
(ARTICLE EDITED after publication)
According to information supplied by Thompson Reuters "On Tuesday Honduras released sovereign bonds worth $500 million, up to 2024 with a yield of 7.5 percent, or a difference of 547.9 base points compared to the equivalent certificates from the Treasury of the United States, published IFR, a financial information service by Thompson Reuters."
Costa Rica has released a reform bill which seeks to "restructure" the Secretariat for Economic Integration (SIECA by its initials in Spanish).
It also suggests reforms to the Central American Court of Justice (CCJ) and the Central American Bank for Economic Integration (BCIE), among others.
"The foreign ministers of the Central American Integration System (SICA) have studied a first 'sketch' of the body of reforms, including changes to some components and the creation of a Secretariat of Security", noted an article in Siglo21.com.gt.
The Central American Bank for Economic Integration will provide $49 million for the construction of the road from San Antonio Villa-Goascorán.
From a statement from the Ministry of Finance (MOF):
Honduras' government, through the Ministry of Finance (MOF), and the Central American Bank for Economic Integration (BCIE) have signed a loan agreement for the implementation of the "Road Villa de San Antonio-Goascorán, Section IA and IB", for U.S.
The Central American Bank for Economic Integration is inviting bids for consulting services in two projects on a Pre-Investment Road Program for Honduras.
General Objectives of the consultancy:
To produce complete documentation, so the project can proceed to carry out the bidding processes for the execution and the supervision of the project of the same name.
The Italian construction company will manage the 1-B section of the ring road in the city of Tegucigalpa, at a cost of $20 million.
The National Congress has approved a contract with the company Astaldi, who was selected in a tender in which 24 companies participated, to complete the unfinished ring road in Tegucigalpa.
"It is estimated that construction of the 7.1 kilometers that make up section 1-B will take about 12 months, which means that the works should be completed in 2013. The cost of the project is 20 million dollars, resources that have been provided by a loan from the Central American Bank for Economic Integration", reported Laprensa.hn.
The IDB, CABEI, and the World Bank top the list of the seven financial institutions that together have pledged a total of $3.189 billion in loans for the development of public works.
The amount still available in the Honduran loan portfolio for external funding is $1.254 billion. The total amount of loans approved is $3.189 billion.
"From January 1st to February 17th, 2012, disbursements amounted to $45.7 million", reports Elheraldo.hn.
The CABEI will provide $4.5 million to complete the financing of the Electric Interconnection System for Central American Countries (SIEPAC).
The Central American Bank for Economic Integration (CABEI) and the Network Owner Company (EPR) signed an agreement on Wednesday for $4.5 million to complete the financing of the Electric Interconnection System for Central American Countries (SIEPAC).