Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
AmericasJune 5 2005

Bankers on tenterhooks over trade agreement

Banks will benefit from CAFTA if it goes through, as it will increase trade among the member countries but there is considerable political opposition, both in the US and some Central American states.Monica Campbell reports from Honduras.San Pedro Sula, an industrial hub in Honduras, looks like an average Central American mid-sized city. Diesel-belching buses – mostly filled with workers, many of whom are young and female – dodge potholes while heading to nearby garment factories.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

But this year, San Pedro Sula’s steamy tropical valley near the Atlantic coast, and other Central American cities like it, are the subject of intensifying debate in Washington.

At issue is: the Central American Free Trade Agreement (CAFTA). This commercial pact between the US, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic is in the process of being ratified by Central American legislators and will soon head to Washington for final approval.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial