Honduras. On January 27, President Juan Orlando Hernández was sworn in as the first president since the reintroduction of democracy in 1982 to hold office for two terms. However, the electoral victory was followed by a long drawn out political battle over the November 2017 election results. the talks between the parties arranged by the UN to reach an agreement. However, part of the background to PL’s decision was also internal struggles within the party.
- According to Abbreviationfinder: HND is an three letter acronym for Honduras.
According to Countryaah.com, Tegucigalpa is the capital city of Honduras, a country located in North America. Accusations of corruption within the police system continued during the year. In February, President Porfírio Lobo’s wife Rosa Elena Bonilla de Lobo, suspected of embezzlement and money laundering, was arrested, and in early November, 377 government officials were arrested across the country in the so-called Operación Dragón XL. But measures against public sector irregularities also suffered setbacks. In January, Chief Police Chief José David Aguilar Morán was singled out for involvement in cocaine smuggling and in connection with organized crime. At the same time, Congress voted in favor of a draft budget that significantly reduced the funding of the anti-corruption agency Maccih’s and the State Prosecutor’s Office.
Great attention at the end of the year got the so-called migrant caravans with refugees from El Salvador, Guatemala and not least Honduras who traveled through Mexico to get to the US. The first caravan of about 7,000 people left the industrial city of San Pedro Sula in Honduras on October 13 and was later followed by several others from neighboring countries. At the end of November, they reached the Mexican border town of Tijuana opposite San Diego, California. US President Donald Trump, who, during the run-up to the congressional election, designated the migrants as criminals, ordered thousands of soldiers to the border with Mexico to prevent migrants from entering the United States.
Finances. – Budgets and public debt. – The financial years run from 1st August to 31st July of the following year. Starting from 1921-22 only the financial years 1924-25, 1925-26 and 1929-30 closed in deficit:
The greatest income is given by customs duties and by the revenue from monopolies; the most important expenditure items are those for public works, public debt and national defense.
As of July 31, 1931, the external public debt (mainly contracted with Great Britain and New Orleans) amounted to 10 million lempiras, and the internal debt to 17.8 million.
Money and banks. – By a law of 1926, whose implementation was decreed however only in March 1931, a new monetary unit was introduced: the lempira- gold, equivalent, like the old peso, or dollar-silver, to 50 American cents (2 lempiras = 1 $), which was minted in the United States, was put into circulation in early 1932 and over time was to become the republic’s only legal tender. Currently the pesos silver however still circulate; and the American dollar, which has a very wide circulation especially on the northern coasts, and the currencies of almost all the countries of Latin America also circulate freely. As of December 31, 1930, the total circulation included $ 20,000 in gold coins, $ 1,250,000 in silver coins and $ 460,000 in notes from the two banks of issue: the Banco di Honduras, that is (which founded in 1889, functioned in 1922 briefly as a bank of the republic and still retains the right to issue tickets, even though it no longer has the capacity of fiscal agent of the government), and of Banco Atlántida (whose capital is mainly American).