Meaning of Idiom ‘Banana Republic’
A banana republic is a small, poor country, especially a small tropical state in central America, that is completely dependent on one fruit export or other limited product and ruled by a corrupt government, or whose economy is controlled by corrupt foreign interests. 1Ayto, John. [http://amzn.to/2vdGvI7 Oxford Dictionary of English Idioms]. Oxford: Oxford U, 2010.,2Definition of banana republic from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press
Usage Notes
The term banana republic is always derogatory. It is often used in an exaggerated way to describe large countries whose rulers are seen as corrupt.

Examples Of Use
“If they have their way this country will become a banana republic.”
“Trump wanted to be the dictator of a banana republic, the kind of ruler he admires.”
“America has an interest in what goes on in these banana republics since so many people flee from them to come to the US.”
“His uniform is completely covered with medals like one of those rulers of a banana republic.”
“Paul Keating warned that Australia would become a banana republic if it failed to enact reforms.”
Origin
During the later 1800s, The American corporation the United Fruit Company, now Chiquita Brands International, focused mostly on bananas that were grown on Latin American plantations and exported to the United States and Europe. In certain areas, the company held a near-monopoly, especially in Honduras, Costa Rica, and Guatemala. The company was accused of neocolonialism and assisted the exploitation and subjugation of the working class laborers by its involvement with the corrupt and weak governments by way of kickbacks and other schemes.
The American author O. Henry coined the term banana republic in 1904 to describe such exploited countries. The term has since become more broadly used to describe any country with a corrupt or weak government under the influence of multi-national corporations.


