LatinNews Daily - 05 April 2022

In brief: Honduras’s central bank hails economic recovery

* Honduras’s central bank (BCH) has released its latest monetary policy report which forecasts GDP growth of 3.5%-4.5% for 2022. This follows GDP growth of 12.5% in 2021, after contracting 9% in 2020 due to the impact of the coronavirus (Covid-19) pandemic. According to the BCH this recovery is the result of a strengthening of external demand, reflected in higher volumes of exports, and a recovery of domestic demand, associated with increased consumption and private sector investment. The BCH said that the Honduran economy, which saw average annual growth of 3.7% between 2015 and 2019, has recovered to pre-pandemic production levels. The same BCH report forecasts that inflation will reach 6.19% this year, up from 5.32% in 2021, above the bank’s target range of 4.0% +/- 1.  The BCH attributes this rise to the uncertainty and rise in prices of food and fuel stemming from Russia’s invasion of Ukraine, among other things.

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