Region Loses $900 million a Year to Organized Crime

Criminal activities in Central America cause a loss of $900 million for regional trade, said the Federation of the Chambers of Commerce of Central America.

Thursday, February 9, 2012

In El Salvador, $600 million was lost due to armed robberies, and in Honduras, the figure is $150 million a year, reported merchants from the isthmus .

Among the criminal activities that affect trade are "the constant assaults suffered by vehicles carrying loads and goods through the region", reported an article in Pueblo en Línea, the Spanish version of The People's Daily, the official Chinese newspaper.

"We can not grow as businesses or as traders if we don't have even a minimum guarantee of assurance that our products, when crossing the border, will not be destroyed or stolen," said Federico Hernandez, one of the leaders of the organization and the president of the chamber of Commerce of El Salvador, as quoted by the website.

Nicaragua reported less losses, with only a million dollars in losses from attacks. Meanwhile, in El Salvador, traders reported some $600 million annually, or 11% of current GDP.

"According to data from Honduran businesses, economic losses in the country resulting from attacks on cargo carriers reached nearly $150 million", said the article in Pueblo en Línea.

FECAMCO leaders recently met in Managua for a regional meeting.

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