Politics Worsens Recession-riddled Honduran Economy

Hondurans are tightening their belts even more than before. With an economy that is shrinking by three percent a year, and deepening political turmoil since President Manuel Zelaya's expulsion in a June coup, many are looking to Sunday's presidential election to bring relief.

Maximo Padillo sells vegetables at a market in Tegucigalpa. He says that business has slowed since Zelaya's forced departure in June.

[Maximo Padillo, Vegetable Stall Owner]:
"We had good customers who bought a lot of produce and now they are buying very little. They tell us it's due to lack of funds. There are no jobs and they have fired a lot of people from their jobs. People are quite worried."

Foreign investment plunged 42 percent in the first half of the year and analysts say it is likely to fall further as investors shun the lingering political uncertainty.

Tourists are also staying away, particularly U.S. visitors dissuaded by a State Department travel warning. Economic analyst Manuel de Jesus Bautista says this spells more economic woes.

[Manuel de Jesus Bautista, Economic Analyst]:
"Tourism will lose out on about 100 million dollars this year, which obviously for our economy is a serious problem."

Ousted president Zelaya has urged his supporters not to vote on November 29th, but many Hondurans simply want to move on.

Category:

News & Politics

Tags:

• NTD
• NTDTV
• Politics
• Honduras
• Economy
• Manuel Zelaya
• President
• Vegetable market

[abarzilai664]

The election happened yesterday with NP cand. Pepe Lobo claiming victory.