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International banks suspend credit to Honduras: Zelaya's minister
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09:36, September 03, 2009

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The international organization of credit has suspended all financial aid to Honduras unless the country reestablishes constitutional order, the finance minister in exile said Wednesday.

"There have made zero outlays; all the organizations have done the same, the aid for Honduras continues to be on standby till the constitutional order is reestablished," Rebeca Santos, who was accompanying the ousted President Manuel Zelaya to Washington, told local Radio Globo.

"This is a strong message that has been ratified in all the meetings we have held," Santos said during an interview in Washington.

She said she has met with representatives from the International Monetary Fund for Central America and the president from the World Bank for Latin America, and discussed the issue with manager of the Inter-American Development Bank for Mexico, Central America and the Caribbean.

The decision was in line with the resolutions from the United Nations, the Organization of American States and the System of Central America Integration, she added.

The exiled finance minister said the Honduran economy is deteriorating in an "amazing form," adding that the country has lost almost 400 million U.S. dollars of international reserves in just two months.

The economic activities are also decelerating, which makes the country's economy and monetary stability vulnerable, she said.

According to her, Zelaya will meet with U.S Secretary of State Hillary Clinton on Thursday.

Zelaya has called on the U.S. government to take more measures such as trade sanctions against the Honduran interim government since 70 percent of the Honduran economy depends on the United States.

While Honduran interim President Roberto Micheletti has said that his government does not fear an embargo by anybody and could survive any economic sanctions imposed over the refusal to reinstate Zelaya.

Source: Xinhua

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