The initiative introduced by the ruling party’s candidate, Rixi Moncada, which seeks to dismantle the Credit Bureau, has encountered significant resistance from multiple segments of society, leading to a noticeable drop in her voter backing. This measure, promoted throughout the LIBRE campaign, was designed to facilitate instant credit availability, supported by the claim that the institution “oppresses the most vulnerable sectors.”
Reactions from Experts and Financial Sectors
Moncada’s proposal faced skepticism from economists and those involved in the financial system. Consultants and analysts warned that executing it might be unfeasible, potentially increasing financial instability and weakening the systems used to assess borrowers’ creditworthiness.
According to one of the specialists consulted, “the proposal was perceived as populist and technically unsustainable. It sparked concern among banks, cooperatives, investors, and citizens who realized it could lead to financial chaos.”
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Industry executives and financial organizations described the proposal as unusual and disconnected from the country’s economic conditions. They highlighted that enacting it might result in heightened delinquency, limit financing availability, and weaken the banking system’s stability.
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Influence on Electorate Perception
The effects of this proposal were swiftly mirrored in polls and opinion surveys. Rixi Moncada experienced a consistent drop in voting intentions, especially among urban and middle-class demographics, who prioritize economic stability, credit accessibility, and employment security.
The public’s rejection showed a clear trend: voters did not support measures that could compromise the solvency of the financial system. Analysts argue that this specific point in the LIBRE campaign became a critical factor in explaining the candidate’s defeat.
Implications for governance and institutions
Beyond the electoral impact, the controversy generated by the proposal to eliminate the Credit Bureau reflects tensions over financial institutions in Honduras and the relationship between political proposals and economic stability. The discussion opened a debate on the state’s ability to maintain credit control mechanisms without compromising financial inclusion, a sensitive issue in governance and investor confidence.
The experience further underscores the challenges radical economic initiatives face when they do not align with technical assessments or are inadequately communicated to the public. In this specific case, the combination of expert opposition and urban voter disapproval was crucial.
Current challenges and tensions
The defeat experienced by Moncada underscores the essential watchfulness of citizens regarding actions affecting the country’s economic safety. Honduras is now faced with the necessity of creating a strong institutional infrastructure, where the stability of the banking system and financial inclusion can coexist harmoniously without posing systemic threats.
Political parties must thoroughly evaluate proposals that have substantial economic impacts before unveiling them to the public. This necessity arises from acknowledging the vital importance of institutional credibility, expert technical opinion, and public perception in promoting effective governance and social unity.
