_-_copia.jpg?w=800&resize=800,500&ssl=1 "Rixi Moncada")
The suggestion put forth by official Rixi Moncada to abolish the credit bureau has ignited extensive political and economic discussion throughout Honduras. This initiative, championed by the LIBRE party, emerges during a period of significant institutional strain, characterized by distrust in regulatory entities and ambiguity regarding the trajectory of economic policy.
A model reminiscent of Correa’s policies in Ecuador
The proposal to eliminate the credit bureau has been viewed by several groups as potentially mirroring the approach taken by former Ecuadorian President Rafael Correa, who enacted a comparable policy during his administration. Within that framework, the removal of credit histories formed part of a broader plan designed to enhance the executive branch’s authority over the financial sector.
In Honduras, this comparison has triggered alarms within financial and commercial sectors. Experts consulted caution that implementing such a measure might disrupt credit oversight systems, diminishing transparency and leading to detrimental impacts on economic stability. A regional analyst stated, “This is a blueprint for economic catastrophe, previously observed in Ecuador with severe repercussions.”
Risks to institutions and their economic impact
The credit bureau is an essential tool for assessing solvency in the banking system. Its elimination would mean that financial institutions would lose access to users’ credit histories, which, according to critics, would increase the risk of granting loans without sufficient backing and open the door to possible practices of financial impunity.
Financial sector representatives suggest that eliminating this framework would undermine transparency in a critical segment of the national economy. Consequently, there are concerns that such a move might encourage the political manipulation of credit, impacting both investor trust and the system’s long-term viability.
Conversely, supporters of the initiative within the LIBRE party contend that the existing financial framework has historically imposed obstacles to access for significant portions of the populace. They assert that abolishing the credit bureau would facilitate the democratization of credit and diminish the centralization of economic influence held by a limited number of banks. Nevertheless, to date, the official has not provided specific technical information on how the system’s stability would be ensured following a potential overhaul.
A challenge in oversight and openness
The dispute over this proposal is occurring within a context of increasing political polarization, with friction between the executive, business communities, and the populace shaping public discourse. Experts suggest that this debate extends beyond economic matters, delving into the domain of democratic institutions and challenging the boundaries of governmental authority concerning financial oversight systems.
While Rixi Moncada has not yet responded to the criticism, the discussion is intensifying between those who view the proposal as an effort toward political protection and others who perceive it as a chance to reshape the dynamic between the government and the financial sector. Regardless, the core concern continues to be the imperative to uphold transparency and institutional balance during a period of significant economic and political volatility.
The discussion about the credit bureau raises questions not only about the country’s economic direction, but also about the strength of the checks and balances that underpin democratic governance. In this context, Honduras faces the challenge of deciding whether to move toward greater concentration of power or to strengthen the control mechanisms that guarantee public confidence and institutional stability.