Just as several European countries have done, Honduras must prepare itself to ask for a bailout.
This was the suggestion made by the Social Forum of Honduran External Debt (Fosdeh) during the spring meetings of the International Monetary Fund (IMF) and World Bank (WB). According to Mauricio Diaz, Fosdeh coordinator, "we are still making recommendations, and we have just done so to the IMF and the WB, the general idea is that we have to prepare a rescue plan."
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD.
Growth remains strong in most emerging economies, albeit at a more moderate pace.
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD. Growth remains strong in most emerging economies, albeit at a more moderate pace.
The decline in credit is affecting both the execution of projects and home sales, resulting in a stagnation for this sector.
The optimism that the construction sector could achieve acceptable growth, present until last March, has vanished. The US economic crisis and its related effects have already begun to impact this sector of the economy.
According to the Salvadoran Chamber of Construction Industries (CASALCO), the outlook for this year will be further complicated by political instability and an increasingly difficult access to credit. "We are seeing the first negative signs in the economy, and the sector sees a troubled future. We don't know how much it will affect us, because the phenomenom in the United States is not measurable yet" said Ismael Nolasco, executive director of CASALCO.