Honduras

Lobo sworn in as president

The political situation continues to move forward towards normality. Porfirio Lobo, winner of the presidential elections held in November was sworn in as president on 27 January. Following on Lobo's inauguration, former president Manuel Zelaya left the country and went into exile in the Dominican Republic, ending his four-month stay inside the Brazilian Embassy in Tegucigalpa. Lobo announced that he intends to rebuild the country's relations with the international community as well as attract foreign capital, although several countries have yet to recognise him as the legitimate president. The new administration has announced an emergency plan to reactivate the economy although government officials have stated that the country is near bankruptcy and that it will need international financial assistance. Amid the only slowly receding political turmoil, economic growth is expected to remain sluggish this year.