IBOV 185,629.04 ▼ 0.93% IPSA 11,370.36 ▼ 0.39% IPC MEX 64,814.97 ▼ 0.39% MERVAL 3,110,163 — 0.00% COLCAP 2,584.02 ▲ 0.57% BVL PERÚ 60,246.14 ▲ 0.76% USD/BRL5.12▲ 0.23% USD/MXN16.95▲ 0.29% USD/CLP930.98▲ 0.36% USD/COP3,100▼ 0.55% USD/PEN3.35▼ 0.12% USD/ARS1,514▼ 0.02% USD/UYU40.22▲ 2.98% USD/PYG5,869▲ 2.29% USD/BOB12.55▲ 3.48% USD/DOP58.59▲ 0.15% USD/CRC447.58▲ 1.69% USD/GTQ7.63▲ 3.01% USD/HNL26.84▲ 0.52% USD/NIO36.62▲ 0.34% USD/VES825.67▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.70▲ 2.04% EUR/BRL5.96▲ 0.92% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,629.04 ▼ 0.93% IPSA 11,370.36 ▼ 0.39% IPC MEX 64,814.97 ▼ 0.39% MERVAL 3,110,163 — 0.00% COLCAP 2,584.02 ▲ 0.57% BVL PERÚ 60,246.14 ▲ 0.76% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Honduras Snubs U.S. with Bold Treaty Break, Despite Heavy Economic Dependence

By · August 29, 2024 · 2 min read

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On August 28, 2024, Honduras terminated its century-old extradition treaty with the United States, marking a bold decision by the country.

This came after U.S. Ambassador Laura Dogu criticized a meeting between Honduran and Venezuelan defense officials.

The meeting included Venezuela’s Defense Minister Vladimir Padrino, indicted by the U.S. on drug trafficking charges.

President Xiomara Castro quickly reacted to these remarks. She instructed her foreign minister to denounce the treaty.

Castro accused the U.S. of trying to control Honduras through its diplomatic influence. Her government framed the decision as a necessary step to protect Honduran sovereignty.

This action signals a significant escalation in tensions between the two nations.

Honduras Snubs U.S. with Bold Treaty Break, Despite Heavy Economic Dependence.
Honduras Snubs U.S. with Bold Treaty Break, Despite Heavy Economic Dependence.
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The treaty’s termination raises serious concerns. The U.S. had relied on this agreement to combat drug trafficking in Central America.

It enabled the extradition of high-profile figures from Honduras. Notably, former President Juan Orlando Hernández was extradited under this treaty in 2022.

He was later convicted in the U.S. on drug trafficking charges. The treaty had been a key tool in holding powerful criminals accountable.

Critics argue this decision could have far-reaching consequences. It might undermine the legal framework needed to pursue justice against organized crime.

Criminals could potentially evade prosecution without the treaty. The move also reflects a broader shift in Latin American politics.

Leftist governments, like Honduras under Castro, increasingly challenge U.S. influence. Castro’s administration has drawn closer to Venezuela, further straining relations with Washington.

The termination of the treaty is not just a diplomatic rift. It symbolizes a deeper geopolitical realignment in the region.

As tensions rise, the future of U.S.-Honduras relations remains uncertain. This decision could have significant implications for security across Central America.

Background

Honduras relies heavily on the United States financially. Remittances from the U.S. are crucial, comprising 27.2% of Honduras’ GDP.

In 2023, remittances to Honduras reached approximately $9.177 billion. This highlights the significant role of U.S. remittances in the Honduran economy.

The U.S. also serves as Honduras’ largest trading partner. In 2022, their total bilateral trade amounted to $14 billion.

The U.S. maintained a trade surplus of $1.9 billion with Honduras. This trade relationship underscores the economic ties between the two nations.

Additionally, the U.S. provides substantial financial aid to Honduras. For instance, the U.S. delivered 12 pallets of cargo under the Denton Program.

These elements illustrate Honduras’ economic reliance on the U.S. through remittances, trade, and aid.

Honduras Snubs U.S. with Bold Treaty Break, Despite Heavy Economic Dependence

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