Credit unions to raise loan interest rates

Tuesday, April 8, 2003

Honduran credit unions will raise interest rates on loans in response to a 15-20% income tax hike, local daily La Prensa reported. Carlomagno Amaya, manager of local credit union Facach confirmed the imminent rise in rates, but declined to give exact figures. Credit unions currently charge rates of 22-24% on loans.

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