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Honduras is one of the poorest countries in the Americas, with GDP per capita at US$2050 per year (1999). The economy has continued to grow slowly but the distribution of wealth remains very polarized with average wages remaining very low. Economic growth is roughly 5% a year, but many people remain below the poverty line. It is estimated that there are more than 1.2 million people who are unemployed. The rate of unemployment is 28% The World Bank and the International Monetary Fund classified Honduras as one of the Heavily Indebted Poor Countries eligible for debt relief, and this debt relief was given in 2005. Both the electricity services (ENEE) and land line telephone services (HONDUTEL) were run by government monopolies, with the ENEE receiving heavy subsidies from the government because of its chronic financial problems. HONDUTEL however is no longer a monopoly, the telecommunication sector having been opened after December 25, 2005; this was one of the requirements before approving the beginning of CAFTA. There are price controls around the price of petrol, and other temporary price controls of basic commodities are often passed for short periods by the Congress. After years of declining against the US dollar the Lempira has stabilized at around 19 Lempiras per dollar. In 2005 Honduras signed the CAFTA (Free Trade Agreement with USA) and in December 2005, Puerto Cortes its main major seaport was included in the U.S. Container Security Initiative. |
Honduras Information: Inside
( In Honduras the electricity comes in to households through overhead cables. Other cables carry telephone, cable television and broadband internet )
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