The recent publication of the Financial Inclusion Module within the November 2024 Permanent Multi-Purpose Household Survey (EPHPM), conducted by the National Institute of Statistics (INE Honduras) in collaboration with the National Banking and Insurance Commission (CNBS) and the Inter-American Development Bank (IDB), provides an updated snapshot of the Honduran population’s participation in the formal financial system. The survey, which covered 7,250 households equivalent to 26,576 people, provides highly representative data on access, use, and financial education, offering relevant information at a time marked by political debates on credit regulation.
Credit utilization and its influencing elements
The document reveals a direct relationship between the utilization of credit and income brackets, with credit usage escalating across higher income quintiles. This trend is influenced by structural elements like the ability to repay, actual market demand, familiarity with financial products, financial literacy, and digital proficiency.
The questionnaire contained inquiries regarding credit requests made over the past year, encompassing various origins: financial institutions, informal lenders, pawnshops, and businesses. For individuals who did not seek credit, the underlying cause was explored. The findings reveal that 91.3% of the justifications relate to a lack of necessity or perceived hazards: “I haven’t required it,” “I don’t fulfill the criteria,” and “Obtaining a loan is excessively perilous.” Conversely, the justification associated with being listed with the Credit Bureau, a point frequently raised in political discussions, constituted merely 0.7%, a statistic that underscores its minimal significance among the impediments to credit accessibility.
These results diverge from the perspectives of political figures, including the candidate from the governing LIBRE party, who has asserted that the Central Credit Registry restricts credit accessibility and has advocated for its removal. Statistical data indicates that the actual impediments to financial inclusion are more strongly linked to socioeconomic factors, educational attainment, and savings habits, alongside the perceived risk stemming from the prevailing economic conditions.
Financial inclusion and regional comparison
In terms of participation in the financial system, the survey reflects a level of banking penetration of 42% of the population over 15 years of age with some type of deposit account or electronic wallet. This data is consistent with information from the World Bank’s Global Findex 2025, which reports 42% for Honduras in 2024, placing the country below neighboring nations such as Costa Rica (71%) and Panama (64%). In addition, there has been a decline compared to pre-pandemic indicators from 2017, highlighting the structural challenges the country faces in terms of financial inclusion.
The study emphasizes that expanding access to credit and financial services requires evidence-based solutions, such as financial education, strengthening savings, and improving the business climate. Measures that involve the elimination or manipulation of credit information could result in institutional setbacks and greater barriers for those who do not yet have access to the formal system.
Institutional challenges and economic context
The financial inclusion module identifies the critical bottlenecks that limit credit expansion in Honduras. Beyond political discussions about the Credit Bureau, access to and use of credit is conditioned by household economic capacity, financial education, and risk perception in an environment marked by economic volatility and high levels of informal employment.
The data gathered by INE Honduras, CNBS, and the IDB offers crucial insights for developing public policies designed to enhance financial participation securely and sustainably, thereby preventing the implementation of actions not supported by verifiable information. The examination of the survey results corroborates that financial inclusion is a complex process influenced by multiple factors, with income, education, and economic foresight playing a more significant role than merely credit regulations.
