The report "Economic Results At Close of 2013 and Prospects for 2014 " indicates that macroeconomic stability is threatened by rising public debt in relation to GDP.
In order to reverse the trend of economic stagnation reflected by the indicators analyzed, the Chamber proposes adopting measures such as the award of Puerto La Union, improving the investment climate, reforming the Law of Public-Private Partnerships (key to securing approval of the disbursement of funds from the second round of FOMILENIO), the adoption of the Law on Legal Stability of Investments and approval of a competitiveness agenda focused on reducing the costs incurred for operating in the country, among other things.
There was an improvement in accident rates and operating performance in the Nicaraguan insurance sector in 2008, as reported by Fitch in a special report.
Thanks to the growth in insurance premiums in the period and progress in costs and accident rates, the sector was able to overcome the operating loss that occurred last year (especially the state insurance company), registering a combined index of 96.3% in 2008 compared to 103.7% in 2007. The good operating performance has enabled the sector to more than offset the decrease in net financial income contribution (by private insurance companies in particular) and impact on the greater overall profitability. The expected decrease in the level of economic activity and thus in the sales of insurances implies a major challenge for the sector and for protection of the progress achieved in the short term. At the close of the previous year, net insurance premiums totaled C$2.1 million, 14.0% above the amount registered in 2007. The faster growth in the case of private insurance companies (17.1%) is worth noting, taking into account the significant growth in premiums of Metropolitana Life Insurance Company (35.1%) and Lafise Insurance (25.7%). For its part, the INISER (Nicaraguan Insurance Institute) experienced a growth of 8.6%. The positive growth of the sector has been primarily in the business of auto and life insurance.
As a result of sustained economic reforms over the last couple of years, El Salvador’s macroeconomic fundamentals are relatively solid.
Like in other Central American countries, however, economic growth has
decelerated in recent months on the back of the U.S. slowdown and still high commodity prices. The global financial turmoil and, possibly, electoral uncertainty, have led to some tightening in domestic financial conditions.
The resolution, which requires all owners of boats used for passenger transport to have insurance, will come into effect at the end of January.
According to elnuevodiario.com.ni "the insurance has to cover the passengers and their luggage," said Manuel Mora, MTI Director of Water Transport, who revealed that throughout last year they kept in contact with Iniser to offer insurance services to the boat owners, "however since they do not see it as a profitable market, they never made any agreements."
The Government is talking of the possibility of getting an emergency line of credit for $1 billion, however the IMF is cautious and has not released the amount it is studying.
Yesterday, Alfred Schipke, the resident regional representative of the IMF, confirmed that they are jointly studying the feasibility of a preventive stand up, an emergency loan that will not necessarily be used immediately.
London & Regional Panama is the master developer of the former Howard air base in Panama, now called PANAMA PACIFICO.
Panama Pacifico, a mixed-use, business, residential and recreational center, will be created over 40 years by renowned developer London & Regional Panama in conjunction with the government of Panama. For those expanding business overseas, retiring in Latin America or simply visiting this beautiful locale, our sustainable, mixed-use business center and residential hub provides a balance of world-class amenities, infrastructure and services.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (507) 316-3500
ZaGo Solutions works hand in hand with business and private operators that want to establish operations in the Latin American region which require the experience and services of a reliable consultancy firm, to provide them with high quality advisory services, with a wide scope of unique and innovative products, specially designed to help them achieve high levels of competitiveness and profit and accomplish business success.
Operates in Honduras
Phone: (504) 2236 9053 - (504) 9982 3885