Economic Development in Honduras

Paper Summary:

This paper provides an overview of the Republic of Honduras, an assessment of the contemporary constraints to its economic development and an analysis of current economic indicators. A summary of the research is provided in the conclusion.

Introduction
Review and Discussion
Contemporary Constraints to Economic Development
Economic Indicators in Honduras Today
Conclusion

From the Paper:

"During its colonial period, Honduras was a province of the Captaincy General of Guatemala, which itself was under the administration of Mexican authorities. Civil wars during the 1820s and 1830s aggravated the collapse, but these problems did not disappear when the country achieved its independence. In fact, "the new nation was born in debt" (Euraque 4). For example, in 1821, the Honduran treasury acknowledged outstanding debts totaling over four million pesos, an amount that subsequently increased to about five million after independence from Mexico. According to Euraque, more loans were quickly assumed by Honduras and in 1825, Central American federal governments contracted for additional loans in British financial markets. "By 1826 the first loan succumbed to a British stock market collapse, and the Central American government was saddled with debts largely for expenses, commissions, government salaries, and cash advances" (Euraque 4). The collapsing regional economies and civil wars did not help in obtaining resources to could pay off the debts that had accumulated during the 1860s, almost three decades after Honduras had separated from the Central American Federation (Euraque 1996)."

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