The proposal by ruling party candidate Rixi Moncada to eliminate the Credit Bureau generated significant rejection among different sectors of society, directly influencing the decline in her electoral support. The initiative, promoted during the LIBRE campaign, sought to facilitate immediate access to credit, arguing 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 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 quickly reflected in polls and opinion surveys. Rixi Moncada showed a steady decline in voting intentions, particularly among urban and middle-class sectors, who value economic stability, access to credit, and job security.
The public’s rejection revealed a distinct trend: voters did not endorse measures that might jeopardize the financial system’s solvency. Analysts contend that this particular aspect of the LIBRE campaign proved to be a pivotal factor in accounting for 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
Moncada’s defeat highlights the critical vigilance of citizens concerning measures impacting the nation’s financial security. Honduras now confronts the imperative of establishing a robust institutional framework, one where banking system stability and financial inclusion can harmoniously coexist without introducing systemic risks.
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.