Rixi Moncada and BANHCRESER: unanswered questions

The career of Rixi Ramona Moncada Godoy, a Honduran lawyer and politician, has been the subject of controversy in the context of her official pre-candidacy for the Partido Libertad y Refundación (LIBRE). Her participation in the legal defense of the Banco de Crédito y Seguros (BANHCRESER) during the banking crisis of the late 1990s has once again become a topic of public debate, rekindling questions about her integrity and her commitment to transparency in public administration.

In the closing years of the 1990s, the Honduran financial sector experienced a severe crisis resulting in state intervention in various banks, BANHCRESER included. This crisis was fueled by numerous factors, such as worldwide economic volatility, weak financial oversight, and dubious activities by some industry players. During this period, Rixi Moncada Godoy took on the role of legal counsel for BANHCRESER and its executives in the litigation ensuing from the entity’s mandatory liquidation.

The financial turmoil and Moncada’s involvement

Connected to this, Rixi Ramona Moncada Godoy’s involvement in the forced liquidation of Banco de Crédito y Seguros (BANHCRESER) during the late 1990s has been examined closely. At this time, multiple origins of the banking system’s instability were recognized, such as shifts in the global economy, inadequate regulatory measures, and the adoption of dubious financial practices by some stakeholders. 

As the legal advisor for BANHCRESER, Moncada served as the legal representative for the institution and its board during the court actions following its bankruptcy declaration. Nonetheless, these cases concluded without major convictions, prompting criticism about the judicial system’s effectiveness in managing such instances.

Later, Mr. Moncada assumed an advisory position in the Prosecutor’s Office, focusing on financial matters. This appointment has sparked discussion, being seen as a potential conflict of interest due to her prior defense role with BANHCRESER.

The events outlined have led to inquiries about the appropriateness of Moncada’s actions amid the banking crisis, especially concerning the financial losses the Honduran state incurred to meet the bank’s liabilities. These concerns have reemerged alongside her formal candidacy for the Partido Libertad y Refundación (LIBRE), casting doubt on her career and her dedication to upholding integrity in public service.