Honduras News – Daily News about Honduras

At an extraordinary meeting of the Central American Integration System (SICA) yesterday, the region’s presidents approved of recognizing Honduras’ new president, Porfirio Lobo, and allowing Honduras back into the Organization of American States (OAS). SICA also pledged to work at better cooperation against drug crime, and to strengthen peace and democracy in the region.

SICA did not expel Honduras during the political crisis last year; however, it condemned the actions taken, and boycotted the country. The meeting was attended by all regional leaders except Nicaragua’s President Daniel Ortega.

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The bond between the New Orleans Metro area and Honduras grows this weekend. Mayors from Kenner and the Honduran city of La Ceiba break bread.

Dignitaries from Jefferson Parish and Honduras crowded Salvatore’s Restaurant in Fat City Saturday night. Kenner Mayor Mike Yenni and La Ceiba Mayor Carlos Aguilar met and acknowledged their similar ages. These two young mayors, brand new to their position met to revive a decade old Sister Cities agreement between their cities, and these leaders have much in common.

“We were founded in 1855. They were founded in 1857. We both have Carnival. We both come from fruit and vegetable industries,” Yenni said.

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The International Monetary Fund (IMF) may want Honduras to devalue the currency, according to the report issued reviewing Honduras’ macroeconomic policy.

The good news, is that they project a gradual recovery in economic activity for Honduras in 2010.

Executive Board Assessment

The “Executive Directors noted that the global slowdown and domestic political tensions in 2009 had an adverse impact on the Honduran economy. This led to a sharp deterioration in macroeconomic imbalances, fueled in part by expansionary policies. Directors stressed that it will be necessary to take prompt measures to restore macroeconomic stability and support the incipient economic recovery, and to establish the conditions for sustained long-term growth. The authorities’ renewed efforts to strengthen its dialogue with the Fund are welcome.”

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