Juan Orlando Hernández has assumed the presidency of a country affected by a serious fiscal deterioration, criminal violence and lack of public and private investment.
The new president of Honduras, Juan Orlando Hernández, assumes command of the country in a very complex environment, where the lack of adequate infrastructure, high fiscal deficits and deteriorating social conditions seriously affect the country's competitiveness internationally.
Continued economic deterioration during the government of Porfirio Lobo has led businessmen to prefer the leftist opposition candidate over the ruling party man.
An article in Elnuevoherald.com reports that Adolfo Facussé, president of the National Association of Manufacturers, said that the current government "... is an economic disaster, giving out money in political campaigns, increasing public administration and making unnecessary tenders which are not very transparent".
In order to boost trade links and tourism, among other things, the embassy will open its doors on October 14.
From a press release by the Ministry of Foreign Affairs in Honduras:
Chancellor Mireya Aguero de Corrales together with Ambassador of the Russian Federation, Mr. Nicolay Vladimir, Undersecretary of Finance, Evelyn Bautista, commissioner for the Promotion of Public-Private Partnerships (COALIANZA), Jose Antonio Pineda, from the Foundation for Investment and Development of Exports (FIDE), Vilma Sierra and the representative of the Honduran Council of Private Enterprise (COHEP), Abraham Benatton, held a discussion with the media to publicize the forthcoming official visit to Russia by the Honduran delegation .
With financial support from the Colombian Union of Energy Workers, ENEE employees could take over the company's distribution network.
The Union of Workers of the National Electricity Company (STENEE) has submitted to the Union of Workers of the National Power Industry (UTEN) of Colombia a technical and financial proposal for the development of a project called "Optimization of the distribution network to assure ENEE revenue".
The Honduran president Porfirio Lobo has disbanded the intervention commission which tried to save the state communications company using a self rescue plan.
The president of Honduras was emphatic in dismissing outright any bailout attempt, saying "Fixed telephony is disappearing and its the same case for Hondutel, the instruction given to the Commission from the beginning is that they were to see how an alliance could be made with the workers and the union because we can not take on their concerns, if this doesnt fix the problem, no government is able to sustain Hondutel because it does not make sense to subsidize a company which should be providing a benefit to the state. "
The sum of the external public and private debt reached a balance of $5.456 billion, 12.7% higher than that recorded at the end of December 2012.
The country is facing a severe financial crisis fueled by a runaway fiscal deficit and runaway government spending.
In the last few days, Mauricio Diaz Burdett, coordinator of the Social Forum of External Debt and Development of Honduras (Fosdeh) noted that the Honduran state institutions can not recover in financial terms, therefore he advocated the formulation of an international financial rescue plan.
Following the resignation of its general manager, an oversight board will assume the administration of the Honduran Telecommunications Company.
Laprensa.hn reports that a decree signed by President Lobo, establishes the creation of an intervention commission to be appointed by himself, so that Hondutel can "operate, maintain, expand and modernize the national and international telecommunications services" through the development of a financial rescue and budget plan.
Lobo's government has increased the country's domestic debt to $2.4 billion, half of which was incurred between January 2010 and January 2011.
Between January 2010 and November 2011, the government of President Porfirio Lobo added $1.6 billion to the internal debt, more than half the current total of $2.4 billion.
The government’s average daily expenditure is about 400 million lempiras ($21 million) and it collects about 130 million lempiras ($6.8 million), making a deficit of 270 million lempiras ($14.1 million), reports ElHeraldo.hn.
The countries have adjusted diplomatic relations at ambassadorial level.
The new Ambassador of Nicaragua in Honduras will be Mario José Duarte, while his Honduran counterpart in Nicaragua will be Lenin Torres.
The Nicaraguan government had formalized the recognition of the Porfirio Lobo government in June 2011.
An article in Laprensa.com.ni reports: "Honduras also has a number of pending appointments for ambassadors in South American countries such as, Argentina, Brazil and Venezuela, and also in Canada, China, Libya, Singapore and Taiwan.
Funes and Martinelli have maintained high levels of approval from their countrymen, while Ortega is recovering, Colom and Lobo are still low and Chinchilla is still falling.
With the first few years of presidency behind them, Mauricio Funes and Ricardo Martinelli are the leaders in the area with the most approval from their citizens: The first for having faced difficult opposition, and for his education, personality and charisma.
The increase will be retroactive to January 2011, and will be structured in 9 categories from 6.5% to 13%.
The categories were designed based on economic activity and growth sustained by each industry in the past months.
Felicito Ávila, labor ministry, noted that the official announcement will be made on March 30th and that the categories are "agriculture, hunting, fishing, water and gas, wholesale and retail, personal services, finance, banking and insurance".
The government announced it is closing its embassies in Venezuela, Ecuador, Argentina, Bolivia and Brazil.
A statement from the Foreign Ministry says it will open trade offices in India, Singapore, China and Canada.
"Foreign Minister, Mario Canahuati, said ... Honduras is revising embassies in Latin America. The country intends to keep embassies in Colombia, Peru and Chile and for those embassies to serve other South American countries."
Honduras agreed to receive support from Taiwan in order to attract investment and promote social projects.
The information was announced by Foreign Minister Mario Canahuati from Taipei, as part of the official visit of President Porfirio Lobo, without disclosing the amount of the loan which the country may receive.
"Although the amount was not disclosed, it was confirmed that Honduras will have access to a large loan with a low interest rate for investment in rural and urban areas", published Elheraldo.hn.
In the absence of agreements at negotiating tables between employers and employees, the President approved the increment.
This was announced by President Porfirio Lobo, who gave no details of percentages to be applied, but stressed that the increase will be retroactive.
Proceso Digital published on its website, "The minimum wage should have been approved in April, but due to disagreements between employers and workers represented at the Minimum Wage Commission, the decision has been delayed."