Statement on the Action by the Honduran Government to Protect the Honduran Financial System

The U.S. Department of Treasury welcomes the swift action by the Honduran government to protect the Honduran financial system by assuming management control of Banco Continental, which was designated by the Office of Foreign Assets Control for playing a significant role in international narcotics trafficking.

The Department of Treasury is committed to working with the Honduran government as it proceeds with the liquidation of this bank. Protecting Banco Continental’s customers and employees from financial harm is a shared priority for both the United States and Honduran governments, and we will continue to work in close partnership to safeguard the Honduran and broader international financial system from illicit financial activity and abuse.

U.S. Ambassador to Honduras James D. Nealon added that, “We applaud the quick and decisive action by the Honduran authorities to ensure the integrity and soundness of the Honduran financial system. Hondurans can be confident that it is well-managed and well-protected. We are working closely with Honduras and the U.S. Department of the Treasury and will continue to do so, to build on the impressive macro-economic gains highlighted by the International Monetary Fund and others.”