LatinNews Daily - 29 March 2021

In brief: Honduras central bank warns economic recovery will take a while

* Honduras’s central bank (BCH) has released a report which forecasts that the country’s GDP will grow between 3.2%-5.2% in 2021-2022. However, the same report warns that it could take until 2023 to achieve levels of production equivalent to those witnessed before the coronavirus (Covid-19) pandemic which, along with hurricanes ‘Eta’ and ‘Iota’, which made landfall in November 2020, resulted in Honduras’s GDP contracting by 8.5% in 2020. The most recent BCH figures for its monthly economic activity index (Imae) show that economic activity contracted by 6.3% year-on-year in January. Revised figures show that this is the smallest contraction since the start of the pandemic in March 2020. In its most recent (December 2020) forecast, the United Nations Economic Commission for Latin America & the Caribbean (Eclac) forecasts that Honduras’s GDP will grow 4.5% in 2021.