Honduras News - Daily News about Honduras

Honduran authorities have approved an operating license for Procredit bank, of mixed German and Dutch capital, government regulators said Tuesday. The National Banking and Securities Commission approved the license for Procredit to become the ninth bank operating in the country.

The bank is owned by Germany-based ProCredit Holding AG and the DOEN Foundation of the Netherlands, with paid-in capital of 13.3 million dollars.

It plans to concentrate on lending to medium, small and microbusinesses in Honduras.

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Before a mostly pro-Honduran sellout crowd of 8,365, Martinez beat goalkeeper Juan Jose Gomez on a header in the first minute after Emil Martinez’s free kick bounced off a defensive wall. Martinez doubled the lead in the 57th minute with a drive from the top of the penalty area.

Honduras beat El Salvador 2-0 on Friday in Fort Lauderdale, Florida on a pair of goals by Carlos Oliva. The teams are preparing for June’s Gold Cup, where El Salvador is grouped in the first round with the United States, Guatemala, and Trinidad and Tobago. Honduras is in a group with Mexico, Panama and Cuba.

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Nicaragua has one last chance to answer to Honduras’ arguments at the International Court of Justice on the common border in the Caribbean Sea.

The historic border limit runs from Cabo de Gracias a Dios on parallel 15, heading NE, up to parallel 17.

The area involves 37.29 sq miles of sea, continental platform and an exclusive economic zone.

Honduras will submit Thursday further evidence at the ICJ at the Hague, Holland. Once the third week of debates is completed the ICJ will announced the sentence in September.

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As in Nicaragua and other Latin American countries, the IMF and the World Bank are pressuring for Honduras to sell its telecommunications companies to foreigners. This privatization of communications is linked to the process of demilitarizing the country.

The economic crisis that is keeping the majority of Honduras in a state of desperation continues to worsen. President Carlos Reina’s economic Cabinet has not yet found a way to retard the inflationary process that feeds the continual rise in the prices of basic products. Cumulative inflation for 1995 was 11.8% as of April, very close to the 12% that the economic Cabinet had estimated for all of 1995. According to the Honduran Economists’ College, if the situation continues, cumulative inflation by the end of the year will reach 30% or more.

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