TAIPEI (Taiwan News) — Honduran Foreign Minister Eduardo Enrique Reina on Wednesday (March 15) said that his country is severing ties with Taiwan because it refused to double aid and restructure debt.
Reina told local television station Canal 5 that Tegucigalpa had proposed to Taipei "more important relations given the great needs of the Honduran people," but claimed that Taiwan had rejected the shift in policy, reported AFP. He stated that Honduras had asked Taiwan to double its annual aid package of US$50 million (NT$1.53 billion) and to consider "realigning" its US$600 million (NT$18.38 billion) in debt to Taipei, but failed to receive a satisfactory reaction.
In addition, Reina also stated that Honduras has needs that must be addressed in terms of energy, social policies, and refinancing of debt, which is "drowning the country." Regarding the debt, Reina pointed out that Honduras paid US$2.2 billion in 2022 and must expend an additional US$2.3 billion this year to service internal and external debt, which totals US$20 billion.
Reina argued that 171 countries across the globe have diplomatic relations with "continental China" and the economic reality is that Honduras "had to take that decision."