{"id":6822,"date":"2013-01-30T15:03:47","date_gmt":"2013-01-30T20:03:47","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=6822"},"modified":"2013-02-01T09:27:07","modified_gmt":"2013-02-01T14:27:07","slug":"honduras-a-country-on-the-brink-of-bankruptcy","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/honduras-a-country-on-the-brink-of-bankruptcy\/","title":{"rendered":"Honduras: A Country on the Brink of Bankruptcy"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/01\/honduras.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6852\" title=\"honduras\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/01\/honduras.gif\" alt=\"\" width=\"273\" height=\"247\" \/><\/a><\/p>\n<p>Following my article on<a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/news-from-panama\/organized-crime-and-insecurity-in-belize\/\" target=\"_blank\"> <\/a><strong><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/news-from-panama\/organized-crime-and-insecurity-in-belize\/\" target=\"_blank\">Belize<\/a> <\/strong>last week<strong> , <\/strong>I move down the map to the <strong>Honduras<\/strong> that is in the headlines these days and for all the wrong reasons.<\/p>\n<p>There is an abundance of signs of deterioration of the Honduran  state, where the fiscal crisis and the political crisis are feeding off  each other.<\/p>\n<p>Roberto Arce&#8217;s article for AP, published in  Laprensa.hn, reviews the events that mark the depth of the institutional  crisis, with cessation of salary payments to civil servants and an  external public debt which has once again reached $5 billion, after  international multilateral banks waived $3.5 billion in 2007.<\/p>\n<p>&#8220;Honduras, a country which has been on the brink of bankruptcy for months, is facing a fiscal and financial crisis while the country&#8217;s  MPs have been slow to adopt a general budget. The country also has a  huge foreign debt, $5 billion, acquired in the last five years, which is  equivalent to the general budget of the Nation. &#8221;<\/p>\n<p>&#8220;The financial crisis adds to the general feeling that Honduras is a  failed state with one of the highest murder rates in the world, taken  over by the drug traffickers who have invaded their cities and coasts  and which has been without constitutional justice for a month and a  half. &#8216;<\/p>\n<p>&#8220;Experts consulted say that the crisis has been fueled by a mixture of  state corruption, the fact that 2013 is an election year and an economy  that was already struggling.&#8221;<\/p>\n<p>&#8220;In many ways, the state has stopped working&#8221;, said Robert Naiman,  policy director of Just Foreign Policy, a Washington-based organization  that seeks to reform U.S. foreign policy.<\/p>\n<p>Source: laprensa.hn<\/p>\n<h2>Think Panama !<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Following my article on Belize last week , I move down the map to the Honduras that is<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6822","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Honduras: A Country on the Brink of Bankruptcy - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/honduras-a-country-on-the-brink-of-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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