Desperate for cash, Honduras hawks bonds
Tuesday, March 5, 2013
Honduras is broke. It can't pay government employees, contractors, or suppliers. It's not unusual for teachers to go six months between paychecks under Porfirio Lobo Sosa.
Road construction has stopped again due to government debts to the construction companies. It also stopped paying the government health provider.
So Honduras is now seeking to privately place over $750 million in bonds. In that private placement, it is using Barclays and Deutsche Bank as its agents.
Source: Latin America Monitor