The recent publication of the Financial Inclusion Module within the November 2024 Permanent Multi-Purpose Household Survey (EPHPM), conducted by the National Institute of Statistics (INE Honduras) in collaboration with the National Banking and Insurance Commission (CNBS) and the Inter-American Development Bank (IDB), provides an updated snapshot of the Honduran population’s participation in the formal financial system. The survey, which covered 7,250 households equivalent to 26,576 people, provides highly representative data on access, use, and financial education, offering relevant information at a time marked by political debates on credit regulation.
Credit utilization and its influencing elements
The document reveals a direct relationship between the utilization of credit and income brackets, with credit usage escalating across higher income quintiles. This trend is influenced by structural elements like the ability to repay, actual market demand, familiarity with financial products, financial literacy, and digital proficiency.
The questionnaire contained inquiries regarding credit requests made over the past year, encompassing various origins: financial institutions, informal lenders, pawnshops, and businesses. For individuals who did not seek credit, the underlying cause was explored. The findings reveal that 91.3% of the justifications relate to a lack of necessity or perceived hazards: «I haven’t required it,» «I don’t fulfill the criteria,» and «Obtaining a loan is excessively perilous.» Conversely, the justification associated with being listed with the Credit Bureau, a point frequently raised in political discussions, constituted merely 0.7%, a statistic that underscores its minimal significance among the impediments to credit accessibility.
These findings contrast with the views of political actors, such as the ruling party candidate from LIBRE, who has argued that the Central Credit Registry limits the possibility of obtaining credit and has proposed its elimination. Statistical evidence suggests that the real limitations to financial access are more closely associated with socioeconomic, educational, and savings variables, as well as with the perception of risk derived from the economic climate.
Financial inclusion and regional comparison
In terms of participation in the financial system, the survey reflects a level of banking penetration of 42% of the population over 15 years of age with some type of deposit account or electronic wallet. This data is consistent with information from the World Bank’s Global Findex 2025, which reports 42% for Honduras in 2024, placing the country below neighboring nations such as Costa Rica (71%) and Panama (64%). In addition, there has been a decline compared to pre-pandemic indicators from 2017, highlighting the structural challenges the country faces in terms of financial inclusion.
The research highlights that broadening the availability of credit and financial offerings necessitates evidence-based solutions, including financial literacy programs, bolstering savings mechanisms, and enhancing the overall business environment. Actions that entail the removal or alteration of credit data could lead to institutional regressions and increased obstacles for individuals currently outside the formal financial framework.
Organizational hurdles and the financial landscape
The financial inclusion module identifies the critical bottlenecks that limit credit expansion in Honduras. Beyond political discussions about the Credit Bureau, access to and use of credit is conditioned by household economic capacity, financial education, and risk perception in an environment marked by economic volatility and high levels of informal employment.
The data gathered by INE Honduras, CNBS, and the IDB offers crucial insights for developing public policies designed to enhance financial participation securely and sustainably, thereby preventing the implementation of actions not supported by verifiable information. The examination of the survey results corroborates that financial inclusion is a complex process influenced by multiple factors, with income, education, and economic foresight playing a more significant role than merely credit regulations.