The recently released Financial Inclusion Module, part of the November 2024 Permanent Multi-Purpose Household Survey (EPHPM), offers a current overview of how the Honduran populace engages with the official financial sector. This module was a joint effort by the National Institute of Statistics (INE Honduras), the National Banking and Insurance Commission (CNBS), and the Inter-American Development Bank (IDB). The survey encompassed 7,250 households, representing 26,576 individuals, and delivers highly pertinent statistics concerning access, use, and financial education. This information is particularly relevant given the ongoing political discussions surrounding 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 relation to engagement with the financial sector, the poll indicates that 42% of individuals aged 15 and above possess either a deposit account or an electronic wallet, signifying the extent of banking access. This figure aligns with the World Bank’s Global Findex 2025 data, which recorded 42% for Honduras in 2024, positioning the nation behind nearby countries like Costa Rica (71%) and Panama (64%). Furthermore, a decrease has been observed when compared to pre-pandemic metrics from 2017, underscoring the fundamental obstacles the country encounters regarding financial integration.
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.
Institutional challenges and economic context
The financial inclusion module pinpoints the **crucial obstacles** hindering credit growth in Honduras. Setting aside political debates surrounding the **Credit Bureau**, the availability and utilization of credit are shaped by **household financial standing**, **financial literacy**, and the perceived risk within an economic climate characterized by instability and widespread informal labor.
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.
