The Micheletti Budget Squeeze: Not All That

Quico says: So, the EU has cut some $92 million in budget aid to the de facto government in Honduras, citing lack of progress in the Arias-mediated negotiations. What’s striking is not how much money that is, but how little: just 1.6% of Honduras’s $5.6 billion budget for the next fiscal year. Tellingly, there’s no way to compare that with the previous budget: Mel Zelaya refused to submit a budget to congress in 2008.

Overall foreign aid, at $300 million a year, accounts for just 5.4% of government spending. (And not 10%, as the AP reported.) Even then, even Zelaya supporters don’t want it all cut.

Post 47 of 100. I can’t say the word “lempira” without cracking up…