Wednesday, September 23, 2009

$50 Million a Day

Bloomberg reports that Jesus Canahuati, vice president of the Honduran chapter of the Business Council of Latin America, said that the curfew in Honduras is costing the economy $50 million a day. He noted that the economy has lost $200 million in new investments since June 28.

"Those numbers aren't sustainable in Honduras," Canahuati said.

In another Bloomberg report, Sandra Midence, the President of the Banco Central of Honduras for the de facto government predicted the return of Zelaya might lead to a high demand for foreign currencies, further draining the national reserves.

"Before Zelaya's return, I was pretty tranquil because the drainage of reserves had slowed. With his return, I'm waiting to see how it affects demand for dollars and Lempiras."

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