Responses to the Coup d'etat in Honduras on Sunday June 28, with special emphasis on producing English-language versions of commentaries by Honduran scholars and editorial writers and addressing the confusion encouraged by lack of basic knowledge about Honduras.
Monday, November 9, 2009
Gasoline Subsidies Again
Since the coup, Petrocaribe cut the de facto government off from this oil supply, and it has resorted to the open market, buying from Shell, Chevron, Texaco, etc. at market rate. To try and shield the Honduran market from the rapid price fluctuations of the spot fuel market, it has gradually been reintroducing price supports into the formula that controlls the price of fuels in the country.
Today, the minister of Commerce and Industy, Benjamin Bogran, announced that the government would be absorbing one half of the real increase in the cost of fuel. The real international reserves have fallen below $2000 million. Its not clear where this unbudgeted fuel subsidy is coming from. Could Micheletti be spending without budget support, as he accused Zelaya of doing?