Honduras is currently in the research phase. Central Bank of Honduras president Wilfredo Cerrato said, “The Central Bank of Honduras has also recently begun, approved by the board of directors, to initiate the study... to determine the feasibility of conducting a pilot test issuing its own digital money or a central bank digital currency.” Therefore, it’s likely Honduras may soon enter the pilot phase. The Central Bank of Honduras has also requested technical assistance from the International Monetary Fund.

A full analysis of the CBDC developments in Honduras and Honduras’s treatment of civil liberties is forthcoming.

In the meantime, for additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.