10 Modern-Day Banana Republics | KickassFacts.com

10 Modern-Day Banana Republics | KickassFacts.com: The term 'Banana Republic' was first coined in 1904 to describe Latin American countries whose economy relied heavily and usually solely on the export of bananas. In the modern world, however, developing countries are experiencing a similar problem, where they are relying purely on one product or industry to carry their entire country. 01 Honduras – Bananas The quintessential banana republic, Honduras has recently picked up a bad name for its high crime levels and low development rate. This was the first country to be nicknamed a banana republic, and corruption in the government has meant this probably isn't going to change any time soon. However, a growing tourism industry in the jungle areas of this small country has started to exist, but many outsiders fear the reputation that Honduras has gained. 02. Botswana – Diamonds Botswana's economy, for many years, has relied completely on diamonds to keep it afloat. Despite the government's persistence in investing into other industries

$$$

3