TEGUCIGALPA, Honduras, June 16, 2020 /PRNewswire/ -- The 2020 Fiscal Transparency Report shows Honduras as one of the countries that met the requirements of the U.S. Department of State of fiscal transparency, including "having key budget documents that are publicly available, substantially complete, and generally reliable".
The evaluation, which included 141 countries, seeks to promote economic prosperity. In specific, fiscal transparency is a critical element of effective public financial management, which is a factor that contributes to the country's generation of confidence among its citizens and foreign investors.
In the case of Honduras, the evaluation is based on information provided by the US Embassy and Consulate, other US agencies, international organizations and civil society organizations.
The review assessed the progress made by Honduras to publicly disclose national budget documentation, contracts, and licenses, including those processes related with awarding of contracts for the exploration and exploitation of naturals resources.
The evaluation contemplates whether the country has an independent institution that monitors, audits and follows up the public finances and provides public access to the information of its findings
Maria Dolores Aguero, former Foreign Relations Secretary and currently Ambassador to The White House, highlighted the evaluation and stated that the Government of President Juan Orlando Hernandez remains committed with the right of the people to access public information and transparency.
Annual reviews of the fiscal transparency of governments that receive U.S. assistance help ensure U.S. taxpayer funds are used appropriately and provide opportunities to dialogue with governments on the importance of fiscal transparency. "I am pleased to announce the release of the 2020 Fiscal Transparency Report. Congratulations to the 76 out of 141 governments who met fiscal transparency standards this year", Secretary of State Mike Pompeo said.
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SOURCE Government of the Republic of Honduras