Tuesday 28 September 2021

Nicaragua Business Opposed To Price Controls

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NICARAGUA NEWS — The private sector in Nicaragua is opposed to the bill which intends to regulate the prices of 8 of the 53 products in the basic food basket.

José Adán Aguerri, president of Cosep de Nicaragua
José Adán Aguerri, president of Cosep de Nicaragua

The bill introduced in the Legislative Assembly intends to implement measures similar to those applied in Panama since July by the Varela administration, which have distorted the production and marketing of the products it covers, according to entrepreneurs from that country.

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The president of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri told Nicaraguahoy that “… In an economy such as Nicaragua’s, which is a price taker not price-maker, this is simply a populist effort which does not have support from any private enterprise and has no chance of being effective in the market.”

Furthermore, “… He compared the initiative, presented this week to the Assembly, with the effects of supporting the campaign known as the “No Pago” (Don’t Pay) movement and accused ‘politicians of doing harm’ to the economy. ”

Article first appeared at Today Nicaragua, reposted with permission

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