_-_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.
An approach similar to Correa’s governance 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.”
Institutional risks and economic effects
The credit bureau serves as a vital instrument for evaluating financial stability within the banking sector. Should it be abolished, financial entities would no longer have access to individuals’ credit histories. Critics argue this would elevate the danger of issuing loans without sufficient backing and could foster instances 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 controversy surrounding this initiative is part of a scenario of growing political polarization, where tensions between the executive branch, business sectors, and citizens mark the public dynamic. Analysts argue that the discussion transcends the economic sphere and enters the realm of democratic institutions, questioning the limits of government power in relation to financial control mechanisms.
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 debate surrounding the credit bureau brings forth inquiries not merely concerning the nation’s economic trajectory, but also regarding the robustness of the checks and balances that form the foundation of democratic rule. Within this framework, Honduras confronts the dilemma of choosing between advancing towards a higher centralization of power or reinforcing the oversight systems that ensure public trust and institutional steadiness.
