The Central Bank has raised economic growth projections for this year from 3% to 3.5% and revised down the inflation expectations from 5.5% to 4.75%.
From a statement issued by Banco Central de Honduras:
The Central Bank of Honduras (BCH) in fulfilling its tasks approved; in February 2015, the Monetary Programme 2015-2016 (PM), in which it estalished the monetary policy measures to be implemented in the stated period, in order to ensure the maintenance of the internal and external value of the national currency.
Very dark is the future of a country where the rulers do not lift their gaze beyond the few years of the mandate conferred on them by citizens.
EDITORIAL
The president of Costa Rica prefers short-term actions to address the fiscal crisis, while leaving open the tap of privileged public wages by which the future of the nation drowns through.
It is clear that immediate measures need to be taken such as reducing tax evasion and smuggling, and cutting abusive pensions. And it is quite possible that in order to maintain the rule of law taxes also need to be raised. But not closing, RIGHT NOW the growing cascade of state payroll costs that is multiplying every year, means mortgaging the future of the Costa Rican economy. However, president Solis postpones dealing with the topic, because its impact would be felt "only after 15 or 18 years."
"The ongoing economic recovery in the United States and persistence of relatively low oil prices will provide favorable tailwinds to the region.Because of supply constraints, the region is expected to maintain a moderate pace of growth in coming years."
From the press release by IMF:
Central bank governors, finance ministers, and banking superintendents of Central America, Panama, and the Dominican Republic, and senior IMF officials met in El Salvador on July 23-24 to review the economic outlook for the region and strategies to strengthen policy frameworks and raise inclusive growth. The regional conference saw the participation of the President of El Salvador, Salvador Sánchez-Cerén; Governor of the Bank of México, Agustín Carstens; Director of the Netherlands Bureau of Economic Policy Analysis, Laura van Geest; and former Finance Minister of Perú, Luis Carranza.
A comparison between the crisis in the United States in 1929 and the one occurring now in Greece clearly shows that the sooner the costs of an exit from the crisis are assumed, the less time will be spent suffering from the measures taken to overcome it.
EDITORIAL
Obviously some aspects of the current economic tragedy of Greece are different from those suffered by the United States during Twenties of the last century.
Highlights of the report include persistent economic growth, low inflation, and advancing structural reforms, particularly in the fiscal area.
From a statement released by the IMF:
An International Monetary Fund (IMF) mission led by Mr. Lisandro Ábrego visited Tegucigalpa during July 13-16 to review economic developments and the authorities’ implementation of their Fund-supported program during 2015.
An economist is a professional who divides his daily work into two stages: in the morning he explains what went wrong yesterday, and in the afternoon he explains what is happening today.
EDITORIAL
The title of this article with which we are aiming to start the wind down to the weekend (friday 26th), contains words that used to shine in bronze -years ago- on the desk of a then young economist at the central bank of a south american country, a high quality professional who now holds a first class post in that nation.
The entity has emphasized improvements in macroeconomic terms, but warns of damage to the economy caused by only one in five Hondurans working in the formal sector.
From a statement issued by the World Bank:
TEGUCIGALPA, June 10, 2015 - Between 2003 and 2013 employment in Honduras grew at an annual rate of 5.1 percent, surpassing the country's population growth and increasing faster than in other Central American economies.
Growing institutional weakness in several countries of the isthmus brings to the forefront the responsibility of the business sector to keep the economy of this region moving forward.
EDITORIAL
Currently, the governments of several Central American countries are showing signs of weaknesses which - to different degrees- point to a sharp decline in institutional quality.
"... State overregulation has made business legality a privilege that can only be accessed with economic or political power. "
EDITORIAL
In these countries, poor since time immemorial, state bureaucrats whose regular salaries allow them to live in a first world fantasy land have as their primary concern checking that things are done as they should be, that is to say, as they are done in the first world.
The economy registered a growth of 3.9%, mainly due to the performance of the sectors of Insurance and Pension Funds, Agriculture and Manufacturing.
From a report by the Central Bank of Honduras:
In January 2015, the national economy, monitored through the Monthly Index of Economic Activity (IMAE) in the original series, recorded annual change of 3.9% (1.8% in the same month in 2014).
The organization states that the country has advanced in the process of economic stabilization and has exceeded the quantitative targets set for December 2014, also meeting the benchmarks set for March 2015.
From a press release issued by the International Monetary Fund (IMF):
An International Monetary Fund (IMF) mission, led by Mr. Lisandro Ábrego, visited Tegucigalpa during March 9-17 to conduct the first review of Honduras’ Fund-supported program, approved on December 3, 2014. At the conclusion of the visit, Mr. Ábrego issued the following statement in Tegucigalpa today:
For this year the Central Bank of Honduras has projected economic growth of between 3% and 3.5% and inflation of between 4.5% and 6.5%.
From a statement issued by Banco Central de Honduras:
The Board of the Central Bank of Honduras (BCH) has approved the Monetary Programme (FP) for 2015-2016, which contains policy measures to be adopted based on projections of key macroeconomic variables under the national and international current economic context.
The unemployment rate now reaches 10% in a population where 60% of workers have not completed high school, but teachers refuse to be evaluated on their ability in subjects they teach.
EDITORIAL
An article in Nacion.com cites statements by Victor Morales, Minister of Labour, on the rising unemployment levels in Costa Rica: "...There is a mismatch between supply and demand in the corporate sector. There is a demand for skilled technicians; but most of the Costa Rican labor force is unskilled. 60% have not finished high school; it is a national drama. "
The Central Bank of Honduras has reduced the monetary policy rate by 0.25%, setting it at 6.75%, which has created the expectation of lower interest rates in the domestic market.
From a statement issued by Banco Central de Honduras:
The Committee on Open Market Operations (COMA) at the Central Bank of Honduras (BCH by its initials in Spanish), in regular session No.116, analyzed recent performance and prospects for the main macroeconomic and financial indicators, both nationally and internationally.
The Honduran Council of Private Enterprise has pointed out that the Framework Law on Social Protection System "threatens sustainability of businesses and harms labor competitiveness in the country".
From a statement issued by the Honduran Council of Private Enterprise (COHEP)
The Honduran Council of Private Enterprise (COHEP) has been asserting for more than ten years the need for a comprehensive reform of social security, for this reason it congratulates President Juan Orlando Hernandez, for taking the initiative to completely overhaul the social security system in Honduras