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 encountered reservations from economists and financial system stakeholders. Consultants and analysts cautioned that its implementation would be impractical, potentially escalating financial uncertainty and undermining mechanisms for evaluating borrowers’ creditworthiness.
According to one of the specialists consulted, “the proposal was interpreted as populist and technically unsustainable. It generated concern among banks, cooperatives, investors, and citizens who understood that it could trigger financial chaos.”
Business leaders and financial associations described the idea as “bizarre” and disconnected from the country’s economic reality. They pointed out that its implementation could increase delinquency, limit financing opportunities, and affect the strength of the banking system.
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 its electoral ramifications, the debate over the proposed removal of the Credit Bureau underscores the underlying tensions related to financial institutions in Honduras, as well as the complex interplay between political initiatives and economic stability. This issue has sparked a wider discussion about the state’s ability to maintain credit control systems without compromising financial inclusion—a particularly delicate issue affecting both 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 carefully evaluate proposals with high economic impact before presenting them to the electorate, recognizing the importance of institutional credibility, specialized technical opinion, and citizen perception in governance and social cohesion.