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Steep pension cuts, tax increases could plunge Nicaragua into recession

In April last, the Ortega regiem announced it was raising payroll taxes and cutting pension benefits to bolster a hemorrhaing social security program. In this Feb. 8, 2019 photo, a Sandinist ruling party banner and a national flag fly outside the Instituto Nicaraguense de Seguro...

My Two Colones

For the most part, people get extremely concerned when they hear the words recession, inflation or devaluation. Do not panic, all of these are natural stages of the economic cycle that every country has to go through over time. While it is important to have...

Wall Street Sours on Costa Rica

(Bloomberg Business) In a part of the world known for guerrillas, drug runners and fleeing emigrees, Costa Rica has long been the exception. It was an oasis of tranquility and stability -- the Switzerland of Central America, some took to calling it. American retirees flocked...

Nicaragua Foresees US$23 million less for ‘Aguinaldo’

The total amount ‘aguinaldo’ – the year-end bonus – that entered the economy of Nicaragua at the end of 2017 was US$377.1 million, according to official estimates, but at the end of 2018 there would be US$23 million less, due to the loss of...

Liberia airport store offer tourists the secrets of the Nicoya longevity

Tourists passing through the Daniel Oduber airport in Liberia, Costa Rica, will be able to take home a bit of the longevity of the Nicoyans. Tea and infusions, flour, pinolillo de maiz morado, café de ojoche, chileras, honey, chocolates, condiments criollos, cookies and carao, are...

Dollar Could Hit ¢700 By The End of the Year

The dollar exchange rate could close 2018 and start 2019 in a range between  ¢650 and up to ¢700 colones for one US dollar. This according to economists consulted by the Q, who assured that dollar exchange rate will continue to rise due to the...

Costa Rica Credit Card Debt Doubles

The balance of credit card debt doubled in the last eight years, going from US$1.005 billion in April 2010 to US$2.095 billion in April 2018, the Ministry of Economy, Industry and Commerce (MEIC) has revealed, by means of a report prepared by the Directorate...

Latin America’s largest solar park turns Mexican desert green

Driving through the endless dunes and cacti of the Chihuahuan desert in northern Mexico, a shimmering blue field suddenly appears on the horizon -- not a mirage, but the largest solar park in Latin America. This silent stretch of sand in the state of Coahuila...

Costa Rica Year-on-Year Inflation up to June 2018 is 2%

In June, the CPI registered a monthly variation of 0.18%, mainly explained by prices registered in the Transport and Communications sectors. From a report by the National Institute of Statistics and Census of Costa Rica: Of the 315 goods and services that make up the...

Nicaragua: Remittances Could Alleviate Possible Blows To The Economy

Nicaragua received US$353 million of remittances in the first quarter of 2018, according to the Central Bank of Nicaragua (BCN), a 9.3% increase over the first quarter of 2017, when they totaled US$323.3 million. In January of this year, family remittances generated US$112.9 million (10.58%...

What Are The Best Airport Tips?

Here are some tips that will be useful to all travelers, economy and business. Some are more for economy, some others more business or 'clase ejecutiva' in Spanish. Since I have been on both sides (free upgrades) I thought I'd share them with you. ...

Costa Rica Inflation 2.6% YOY as of March 2018

In March, the Consumer Price Index (CPI) recorded a monthly variation of 0.59%, mainly explained by the prices of Entertainment and culture sector, and meals outside the home, , the group having a higher effect on the variation of the general index. From a report...

IMF says Colombian Economy ‘ At Turning Point’

“The Colombian economy is at a turning point, recovering from a combination of external and domestic shocks since 2014 that lowered growth and increased inflation and the external deficit,” says the concluding statement from the IMF mission following their visit. There are more than 20...

Nicaraguan exports to Taiwan boosted by 50%

Nicaragua’s exports to Taiwan reached US$124 million last year, a 50% year-on-year increase. The main exports were shrimp, beef, sugar and coffee, according to the reporte on Thursday by the manager of the Association of Producers and Exporters of Nicaragua (APEN), Mario Arana, and the...

UN Human Rights Council Condemns Sanctions Against Venezuela

The United Nations Human Rights Council (OHCHR ) has adopted a resolution proposed by the Movement of Non-Aligned Countries (NAM) condemning economic sanctions against Venezuela by the United States, Canada, the European Union and their allies. The United Nations Human Rights Council has adopted a resolution...

World Bank’s IFC to finance $115 million for firms in Nicaragua

IFC, a member of the World Bank Group, is structuring a transaction to provide up to US$115 million in financing to Nicaragua’s Banco Lafise Bancentro to boost access to credit for small entrepreneurs and provide housing loans for families. In addition, IFC’s financing is linked...

More Warnings Over Fiscal Deficit

Standard & Poor's maintained Costa Rica's debt rating at BB, but warned that it could lower it this year if the next government (on May 8) does not take measures to resolve the fiscal problem. In its review of the long-term debt rating and...

Real Estate Boom in San Juan del Sur

US$200 million is the figure by which investment in real estate development is estimated to increase between this year and next in the nicaraguan tourist city. Crucero (cruise ship) with more than 2,000 tourists docks in San Juan del Sur (El Nuevo Diario, Jan 2018) Estimates...

Colombia peso boosted by weak dollar and rising oil prices

The US dollar has lost more than 5% of its value against Colombia’s peso over the past month, partly because of an increase in price of Colombia’s primary export product, oil. The peso has not just increased in value against the dollar. The Colombian currency...

Costa Rica – Ecuador Swimway Proposed To Protect Marine Life

A group of scientists, marine ecosystem protectors and government officials from several countries throughout the Americas are working together to create the “Galapagos-Cocos Swimway.” The swimway will be a “new type of international (marine) management” system, Carlos Chacon, Director of Pacific Network (Red Pacifico in...

Costa Rica Colon / US Dollar Exchange Rate Expectations

It is expected that under current economic conditions, the local currency will depreciate on average 3.6% against the US dollar in 2018. The monthly survey on expectations of exchange rate variations up to December 2017 made by the Banco Central de Costa Rica (BCCR) -...

With US Sanctions Looming, Nicaragua’s Economy Posed for Difficult 2018

It could be a long 2018 for Nicaragua and President Daniel Ortega. The country’s economy may slow down significantly should the United States decide to issue sanctions, and internal financial problems threaten its stability as well. Nicaragua grew in recent years by as much as...

Researchers Propose Ecuador-Costa Rica Swimway To Protect Marine Life

A group of scientists, marine ecosystem protectors and government officials from several countries throughout the Americas are working together to create the “Galapagos-Cocos Swimway.” The swimway will be a “new type of international (marine) management” system, Carlos Chacon, Director of Pacific Network (Red Pacifico in...

Venezuela: Maduro Announces 40% Minimum Wage Increase for New Year

Venezuelan President Nicolas Maduro announced Sunday, just before the new year, a 40 percent increase in the minimum wage — as a protection for Venezuelans against ongoing aggression. Venezuela’s President Nicolas Maduro speaks during an event in Caracas, Venezuela. | Photo: Reuters Effective January 1, the...

Nicaragua 2018 Economic Outlook

The Central Bank of Nicaragua forecasts that by the end of 2017 the economy will have grown by between 4.7% and 5.2%, and next year the increase will be between 4.5% and 5%. From a report by the Central Bank: The President of the Central Bank...

How Venezuela Became a Communist Totalitarian State

When Hugo Chávez was running in his first successful presidential campaign, back in 1998, he was asked point blank in several television interviews whether or not he was a communist. icolás Maduro has replaced Venezuela’s Congress with the illegitimate National Constituent Assembly controlled by the...

Good Prospects for Retail in Nicaragua

The Nicaragua retail industry projects US$680 million in sales in the Christmas and end of the year season, which would represent a 7% increase compared to the 2016 season. The Cámara de Comercio y Servicios de Nicaragua (CCSN) – Chamber of Commerce and Services of...

The New South America

Latin America is taking giant leaps towards becoming a global superpower. Treasury Ministers Rodrigo Valdés and Nicolás Dujovne from Chile and Argentina respectively highlighted the importance of advancing towards the process of regional integration in order to the strengthen both economies. The most important topic,...

As Others See Us

Q OPINION - The world is especially turbulent this month. There is a potential war in Korea and real ones in the middle east, Afghanistan, the Philippines and Africa. Venezuela is in turmoil. An unpredictable and combative US president and his revolving door of...

Cuba’s Economy May Not Survive the Fall of Maduro’s Venezuela

TODAY CUBA - Economists are warning that a fall of Nicolás Maduro’s regime in Venezuela could be devastating for Cuba. Professor of Economics at the University of Havana Omar Everleny Pérez said that the island’s economy isn’t prepared for Maduro’s fall because Venezuela is still...

Yes, microlending reduces extreme poverty

A small boost in microlending to the developing world could lift more than 10.5 million people out of extreme poverty. That’s one conclusion of my study, published last month in The B.E. Journal of Macroeconomics, which found that microfinance not only reduces how many...

Almost Half of Argentina’s Children Live in Poverty

(Q24N) Almost half of Argentina's children live in poverty, a rate that has risen by 17 percent after conservative President Mauricio Macri's first year in office, according to a new report by Unicef released Thursday. The United Nations Children's Fund reported about 5.6 million children...

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