Honduras’ New Government Claims Bankruptcy

AP Photo/Eduardo Verdugo

The new administration in Honduras didn’t get off to a good start last week. First, it was announced that the nation is bankrupt and will likely need financial assistance from foreign countries in order to recover from months of diplomatic isolation over its June coup, The New York Times reports.

Also on the first day of the new government, an early morning police raid resulted in 41 people being detained and several weapons seized in the capital. It was not clear if those detained were supporters of ousted President Manuel Zelaya.

Newly inaugurated President Porfirio Lobo said the administration of interim President Roberto Micheletti left office with only about $50 million in government funds. The country Finance Minister William Chong said they will have to approach international lending agencies like the World Bank and International Monetary Fund for loans.

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