IBOV 174,041.95 ▼ 1.52% IPSA 10,950.74 ▲ 0.31% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,283,854 ▼ 1.07% COLCAP 2,274.53 ▼ 0.38% BVL PERÚ 58,287.01 — — USD/BRL5.09▲ 0.06% USD/MXN17.43▼ 0.33% USD/CLP948.45— 0.00% USD/COP3,216▼ 0.02% USD/PEN3.40▼ 0.20% USD/ARS1,496▼ 0.03% USD/UYU40.14— 0.00% USD/PYG6,022— 0.00% USD/BOB11.18— 0.00% USD/DOP57.99— 0.00% USD/CRC449.17— 0.00% USD/GTQ7.63— 0.00% USD/HNL26.75— 0.00% USD/NIO36.62— 0.00% USD/VES740.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.29▼ 0.12% USD/TTD6.71— 0.00% EUR/BRL5.80▲ 0.32% BRENT 89.76 ▼ 7.25% WTI 83.40 ▼ 6.62% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.89% GOLD 4,095 ▲ 0.67% SILVER 59.68 ▲ 1.75% SOY 1,219 ▼ 2.36% CORN 474.50 ▲ 2.21% WHEAT 668.50 ▼ 1.40% COFFEE 300.35 ▼ 4.29% SUGAR 14.64 ▼ 0.88% ORANGE JUICE 142.65 ▼ 2.83% COTTON 80.17 ▲ 2.06% COCOA 5,467 ▲ 3.13% BEEF 222.50 ▼ 1.29% CATTLE 341.45 ▼ 0.68% LITHIUM 67.81 ▼ 1.75% PETR4 42.21 ▼ 1.72% VALE3 75.24 ▼ 0.58% ITUB4 42.10 ▼ 1.08% BBDC4 18.48 ▼ 1.28% ABEV3 15.64 ▼ 1.76% BBAS3 20.35 ▼ 2.77% B3SA3 15.44 ▼ 1.34% WEGE3 45.99 ▲ 0.70% PRIO3 58.82 ▼ 2.84% SUZB3 41.84 ▼ 1.39% RENT3 36.89 ▼ 0.67% AZZA3 16.65 ▼ 2.35% CSAN3 3.80 ▼ 2.56% RAIZ4 0.26 ▼ 3.70% PCAR3 2.79 ▼ 2.79% GMAT3 3.79 ▼ 2.07% PSSA3 54.78 ▼ 0.72% CVCB3 1.34 ▲ 2.29% POSI3 3.55 ▼ 3.27% SLCE3 13.64 ▼ 0.94% NATU3 8.38 ▼ 2.10% BRKM5 6.10 ▼ 1.13% RANI3 7.95 ▲ 0.25% CSNA3 5.36 ▲ 1.13% CMIN3 5.69 ▼ 2.40% USIM5 8.48 ▼ 0.12% GGBR4 24.26 ▲ 0.83% ENEV3 24.90 ▼ 3.11% CPFE3 45.09 ▼ 2.44% CMIG4 10.98 ▼ 1.88% EQTL3 38.34 ▼ 1.74% LREN3 13.27 ▼ 0.75% VIVT3 35.47 ▲ 2.22% RAIL3 13.57 ▼ 2.79% KLABIN 17.52 ▼ 0.79% RAIA DROGASIL 17.98 ▼ 1.15% RDOR3 33.38 ▼ 0.86% HAPV3 9.92 ▼ 5.25% FLRY3 16.26 ▼ 1.93% SMTO3 15.05 ▼ 4.20% UGPA3 32.71 ▼ 2.04% VBBR3 35.10 ▼ 1.40% BBSE3 41.49 ▼ 2.15% BPAC11 54.67 ▼ 2.90% CURY3 29.35 ▼ 0.91% AERI3 2.04 ▲ 0.99% VIVARA 21.42 ▼ 0.14% COMPASS 24.76 ▼ 1.28% VAMOS 3.15 ▼ 1.87% SANB11 26.34 ▼ 1.09% ASAI3 7.85 ▼ 2.12% SBSP3 28.38 ▼ 1.29% WALMEX 48.00 ▲ 1.54% GMEXICO 207.28 ▼ 0.51% FEMSA 221.92 ▼ 0.18% CEMEX 21.18 ▼ 1.40% GFNORTE 193.04 ▲ 2.14% BIMBO 58.26 ▼ 1.39% TELEVISA 9.73 ▼ 0.61% AMX 22.80 ▲ 0.18% GAP 377.44 ▲ 0.26% ASUR 267.99 ▼ 0.69% OMA 226.14 ▼ 0.51% KOF 179.29 ▼ 0.23% GRUMA 268.70 ▼ 0.09% KIMBER 39.70 ▲ 1.10% SQM-B 65,350 ▼ 0.23% COPEC 6,330 ▲ 1.12% BSANTANDER 79.32 ▼ 0.85% FALABELLA 5,990 ▼ 1.12% ENELAM 85.49 ▲ 0.58% CENCOSUD 1,958 ▼ 0.51% CMPC 1,025 ▼ 2.47% BANCO CHILE 193.10 ▲ 1.25% LATAM AIR 23.88 ▲ 1.62% YPF 82,000 ▼ 0.58% GGAL 7,890 ▼ 0.69% PAMPA 5,515 ▼ 2.04% TXAR 675.00 ▼ 0.74% ALUAR 972.00 ▼ 1.07% TGS 9,765 ▼ 2.30% CEPU 2,365 ▼ 2.27% MIRGOR 16,525 ▼ 1.20% COME 42.41 ▼ 0.28% LOMA NEGRA 3,623 ▼ 3.78% BYMA 299.75 ▲ 2.48% TELECOM ARG 4,380 ▲ 1.27% ECOPETROL 16.01 ▼ 1.96% BANCOLOMBIA 86.01 ▼ 0.90% GRUPO AVAL 4.79 ▼ 3.04% CREDICORP 388.77 ▲ 0.29% SOUTHERN COPPER 179.29 ▼ 1.61% BUENAVENTURA 30.91 ▼ 1.31% MERCADOLIBRE 1,801 ▲ 0.15% NUBANK 14.09 ▼ 0.70% XP 16.69 ▼ 0.83% PAGSEGURO 9.20 ▼ 2.75% STONE 10.76 ▼ 2.00% GLOBANT 31.30 ▲ 2.25% TECNOGLASS 45.30 ▲ 3.57% GAP AIRPORT 216.28 ▲ 0.39% ASUR 267.99 ▼ 0.69% OMA AIRPORT 103.43 ▼ 0.68% AMX ADR 26.01 ▲ 0.23% FEMSA ADR 127.12 ▲ 0.03% CEMEX ADR 12.06 ▼ 1.63% PETROBRAS ADR 18.77 ▼ 1.21% VALE ADR 14.79 ▼ 0.27% ITAU ADR 8.28 ▼ 0.84% SANTANDER BR 5.30 — 0.00% AMBEV ADR 3.06 ▼ 0.97% CSN 1.08 — 0.00% GERDAU 4.81 ▲ 0.84% LATAM ADR 50.15 ▲ 0.62% BTC 65,051 ▼ 0.44% ETH 1,959 ▲ 0.30% SOL 76.09 ▼ 0.67% XRP 1.10 ▼ 0.71% BNB 572.33 ▼ 0.38% ADA 0.16 ▼ 0.67% DOGE 0.07 ▼ 1.25% AVAX 6.62 ▼ 1.70% LINK 8.78 ▼ 0.41% DOT 0.81 ▼ 2.30% LTC 46.96 ▼ 1.74% BCH 215.10 ▼ 0.79% TRX 0.33 ▼ 0.25% XLM 0.18 ▼ 0.87% HBAR 0.07 ▼ 1.38% NEAR 1.84 ▲ 0.01% ATOM 1.39 ▼ 0.74% AAVE 101.18 ▼ 0.33% SELIC 14.25% EGX 53,885 ▲ 0.87% USD/ZAR16.70▼ 0.81% USD/NGN 1,363 — 0.00% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,994 ▲ 0.95% KOSPI 6,756 ▲ 0.97% JCI 6,159 ▼ 0.60% USD/JPY163.51▼ 0.07% USD/CNY6.77▼ 0.10% DAX 25,442 ▲ 1.37% CAC 8,411 ▲ 0.47% FTSE 10,767 ▲ 0.29% MIB 52,002 ▲ 0.39% IBEX 19,788 ▲ 1.03% STOXX 647.93 ▲ 0.53% EUR/USD1.14▲ 0.11% GBP/USD1.33▲ 0.03% SPX 7,412 ▲ 0.05% DJI 51,947 ▲ 0.46% NDX 28,128 ▼ 1.15% RUT 2,930 ▼ 0.35% TSX 35,369 ▲ 0.50% VIX 17.65 ▼ 5.01% USD/CAD1.41▲ 0.11% US10Y 4.6790 ▼ 0.51% IBOV 174,041.95 ▼ 1.52% IPSA 10,950.74 ▲ 0.31% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,283,854 ▼ 1.07% COLCAP 2,274.53 ▼ 0.38% BVL PERÚ 58,287.01 — — USD/BRL 5.09 ▼ 0.19% USD/MXN 17.43 ▼ 0.49% USD/CLP 948.45 ▲ 0.70% USD/COP 3,216 ▲ 0.11% USD/PEN 3.40 ▲ 1.89% USD/ARS 1,496 ▲ 0.47% USD/UYU 40.14 ▲ 1.06% USD/PYG 6,022 ▲ 1.17% USD/BOB 11.18 ▲ 2.82% USD/DOP 57.99 ▲ 0.79% USD/CRC 449.17 ▲ 1.55% USD/GTQ 7.63 ▲ 2.09% USD/HNL 26.75 ▲ 1.31% USD/NIO 36.62 ▲ 0.51% USD/VES 740.37 ▲ 0.59% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.08% USD/TTD 6.71 ▲ 0.68% EUR/BRL 5.80 ▲ 0.13% BRENT 89.76 ▼ 7.25% WTI 83.40 ▼ 6.62% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.89% GOLD 4,095 ▲ 0.67% SILVER 59.68 ▲ 1.75% SOY 1,219 ▼ 2.36% CORN 474.50 ▲ 2.21% WHEAT 668.50 ▼ 1.40% COFFEE 300.35 ▼ 4.29% SUGAR 14.64 ▼ 0.88% ORANGE JUICE 142.65 ▼ 2.83% COTTON 80.17 ▲ 2.06% COCOA 5,467 ▲ 3.13% BEEF 222.50 ▼ 1.29% CATTLE 341.45 ▼ 0.68% LITHIUM 67.81 ▼ 1.75% PETR4 42.21 ▼ 1.72% VALE3 75.24 ▼ 0.58% ITUB4 42.10 ▼ 1.08% BBDC4 18.48 ▼ 1.28% ABEV3 15.64 ▼ 1.76% BBAS3 20.35 ▼ 2.77% B3SA3 15.44 ▼ 1.34% WEGE3 45.99 ▲ 0.70% PRIO3 58.82 ▼ 2.84% SUZB3 41.84 ▼ 1.39% RENT3 36.89 ▼ 0.67% AZZA3 16.65 ▼ 2.35% CSAN3 3.80 ▼ 2.56% RAIZ4 0.26 ▼ 3.70% PCAR3 2.79 ▼ 2.79% GMAT3 3.79 ▼ 2.07% PSSA3 54.78 ▼ 0.72% CVCB3 1.34 ▲ 2.29% POSI3 3.55 ▼ 3.27% SLCE3 13.64 ▼ 0.94% NATU3 8.38 ▼ 2.10% BRKM5 6.10 ▼ 1.13% RANI3 7.95 ▲ 0.25% CSNA3 5.36 ▲ 1.13% CMIN3 5.69 ▼ 2.40% USIM5 8.48 ▼ 0.12% GGBR4 24.26 ▲ 0.83% ENEV3 24.90 ▼ 3.11% CPFE3 45.09 ▼ 2.44% CMIG4 10.98 ▼ 1.88% EQTL3 38.34 ▼ 1.74% LREN3 13.27 ▼ 0.75% VIVT3 35.47 ▲ 2.22% RAIL3 13.57 ▼ 2.79% KLABIN 17.52 ▼ 0.79% RAIA DROGASIL 17.98 ▼ 1.15% RDOR3 33.38 ▼ 0.86% HAPV3 9.92 ▼ 5.25% FLRY3 16.26 ▼ 1.93% SMTO3 15.05 ▼ 4.20% UGPA3 32.71 ▼ 2.04% VBBR3 35.10 ▼ 1.40% BBSE3 41.49 ▼ 2.15% BPAC11 54.67 ▼ 2.90% CURY3 29.35 ▼ 0.91% AERI3 2.04 ▲ 0.99% VIVARA 21.42 ▼ 0.14% COMPASS 24.76 ▼ 1.28% VAMOS 3.15 ▼ 1.87% SANB11 26.34 ▼ 1.09% ASAI3 7.85 ▼ 2.12% SBSP3 28.38 ▼ 1.29% WALMEX 48.00 ▲ 1.54% GMEXICO 207.28 ▼ 0.51% FEMSA 221.92 ▼ 0.18% CEMEX 21.18 ▼ 1.40% GFNORTE 193.04 ▲ 2.14% BIMBO 58.26 ▼ 1.39% TELEVISA 9.73 ▼ 0.61% AMX 22.80 ▲ 0.18% GAP 377.44 ▲ 0.26% ASUR 267.99 ▼ 0.69% OMA 226.14 ▼ 0.51% KOF 179.29 ▼ 0.23% GRUMA 268.70 ▼ 0.09% KIMBER 39.70 ▲ 1.10% SQM-B 65,350 ▼ 0.23% COPEC 6,330 ▲ 1.12% BSANTANDER 79.32 ▼ 0.85% FALABELLA 5,990 ▼ 1.12% ENELAM 85.49 ▲ 0.58% CENCOSUD 1,958 ▼ 0.51% CMPC 1,025 ▼ 2.47% BANCO CHILE 193.10 ▲ 1.25% LATAM AIR 23.88 ▲ 1.62% YPF 82,000 ▼ 0.58% GGAL 7,890 ▼ 0.69% PAMPA 5,515 ▼ 2.04% TXAR 675.00 ▼ 0.74% ALUAR 972.00 ▼ 1.07% TGS 9,765 ▼ 2.30% CEPU 2,365 ▼ 2.27% MIRGOR 16,525 ▼ 1.20% COME 42.41 ▼ 0.28% LOMA NEGRA 3,623 ▼ 3.78% BYMA 299.75 ▲ 2.48% TELECOM ARG 4,380 ▲ 1.27% ECOPETROL 16.01 ▼ 1.96% BANCOLOMBIA 86.01 ▼ 0.90% GRUPO AVAL 4.79 ▼ 3.04% CREDICORP 388.77 ▲ 0.29% SOUTHERN COPPER 179.29 ▼ 1.61% BUENAVENTURA 30.91 ▼ 1.31% MERCADOLIBRE 1,801 ▲ 0.15% NUBANK 14.09 ▼ 0.70% XP 16.69 ▼ 0.83% PAGSEGURO 9.20 ▼ 2.75% STONE 10.76 ▼ 2.00% GLOBANT 31.30 ▲ 2.25% TECNOGLASS 45.30 ▲ 3.57% GAP AIRPORT 216.28 ▲ 0.39% ASUR 267.99 ▼ 0.69% OMA AIRPORT 103.43 ▼ 0.68% AMX ADR 26.01 ▲ 0.23% FEMSA ADR 127.12 ▲ 0.03% CEMEX ADR 12.06 ▼ 1.63% PETROBRAS ADR 18.77 ▼ 1.21% VALE ADR 14.79 ▼ 0.27% ITAU ADR 8.28 ▼ 0.84% SANTANDER BR 5.30 — 0.00% AMBEV ADR 3.06 ▼ 0.97% CSN 1.08 — 0.00% GERDAU 4.81 ▲ 0.84% LATAM ADR 50.15 ▲ 0.62% BTC 65,051 ▼ 0.44% ETH 1,959 ▲ 0.30% SOL 76.09 ▼ 0.67% XRP 1.10 ▼ 0.71% BNB 572.33 ▼ 0.38% ADA 0.16 ▼ 0.67% DOGE 0.07 ▼ 1.25% AVAX 6.62 ▼ 1.70% LINK 8.78 ▼ 0.41% DOT 0.81 ▼ 2.30% LTC 46.96 ▼ 1.74% BCH 215.10 ▼ 0.79% TRX 0.33 ▼ 0.25% XLM 0.18 ▼ 0.87% HBAR 0.07 ▼ 1.38% NEAR 1.84 ▲ 0.01% ATOM 1.39 ▼ 0.74% AAVE 101.18 ▼ 0.33% SELIC 14.25% EGX 53,885 ▲ 0.87% USD/ZAR 16.71 ▼ 0.66% USD/NGN 1,363 — 0.00% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,994 ▲ 0.95% KOSPI 6,756 ▲ 0.97% JCI 6,159 ▼ 0.60% USD/JPY 163.53 ▼ 0.16% USD/CNY 6.7663 ▼ 0.08% DAX 25,442 ▲ 1.37% CAC 8,411 ▲ 0.47% FTSE 10,767 ▲ 0.29% MIB 52,002 ▲ 0.39% IBEX 19,788 ▲ 1.03% STOXX 647.93 ▲ 0.53% EUR/USD 1.1403 ▲ 0.25% GBP/USD 1.3337 ▲ 0.14% SPX 7,412 ▲ 0.05% DJI 51,947 ▲ 0.46% NDX 28,128 ▼ 1.15% RUT 2,930 ▼ 0.35% TSX 35,369 ▲ 0.50% VIX 17.65 ▼ 5.01% USD/CAD 1.4097 ▲ 0.04% US10Y 4.6790 ▼ 0.51%
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Monday, July 27, 2026

Trump’s Honduras Gamble: How A Narco-Case Pardon Became An Election Message

By · December 2, 2025 · 2 min read

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Juan Orlando Hernández should have spent most of the rest of his life in a U.S. prison. The former Honduran president was sentenced to 45 years after a New York jury agreed with prosecutors that he helped turn the country into a corridor for hundreds of tons of cocaine.

The drugs were destined for American streets. Instead, he has walked free thanks to a full pardon from Donald Trump. For readers outside Central America, this is more than a strange courtroom twist.

Hernández was once Washington’s favoured partner: tough-on-crime speeches, close security cooperation, reassuring signals to investors.

The same man was later painted by U.S. prosecutors as the political boss of a “narco-state,” where traffickers bought protection from police, soldiers and party insiders in exchange for campaign money and personal gain.

Trump has now erased that landmark sentence at a very specific moment: Honduras is in the middle of a bitter election.

Trump’s Honduras Gamble: How A Narco-Case Pardon Became An Election Message. (Photo Internet reproduction)
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Hernández pardon reshapes Honduran power and U.S. ties

The conservative National Party, Hernández’s old political home, is trying to claw back power from a left-leaning government that has talked about realigning foreign policy and softening its stance toward U.S. security priorities.

Into that battle drops a presidential signature. Hernández sent Trump a deeply flattering, almost devotional letter from prison, casting himself as the victim of politicised justice under the current U.S. administration and presenting their struggles as similar.

Longtime operatives helped carry that message. The pardon that followed is formally about “correcting an injustice” – but in Honduras it is heard as something more.

For many voters and elites, the timing looks like a signal: if a government friendly to Trump’s circle is elected, Honduras can expect warmth, access and deals; if not, the relationship will be colder and more unpredictable.

The message is aimed as much at political insiders, business families and security chiefs as at ordinary citizens. For expats and foreign observers, the case is a sharp reminder of how power really works in the region.

A years-long investigation, a 45-year sentence and grand speeches about the war on drugs were overturned by one relationship and one decision – and used, very likely, as a tool in another country’s election.

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