A bill aims to create a special tax regime, labor and migration incentives for maritime financing institutions and firms carrying out financeable projects.
The Cabinet of the Government of Panama decided to authorize the Minister of the Presidency to propose to the National Assembly, a bill which would create a special regime with incentives in tax, labor and migration incentives for financeable maritime institutions and firms carrying out projects and other provisions.
An announcement from Moody's confirms the limited room for maneuver left to the country when obtaining external financing, compromising access to credit for the private sector.
Costa Rica has received a new warning over a possible lack of access to funds in the international market with which to alleviate its growing fiscal deficit. After China's decision not to buy $1 billion in bonds , the rating agency Moody's anticipates a rise in interest rates in the country and a deterioration of credit and growth.
While the ambition of being a state employee grows, in the last two years the number of start up enterprises or early-stage companies fell by 35%.
The decrease was observed in all types of enterprises, both those in initial stages, when wages had been paid for less than three months, as well as those in the gestation phase, in which companies have paid salaries to employees for more than three months.
The operator of Molejon gold mine in Panama has announced that it has obtained a line of credit of up to $25 million to restart operations from February 1st.
Baseline Financial Group is the company that will provide an initial payment of $10 million, with a progressive investment of up to $25 million, to revive the extraction of gold from the mine. The contract stipulates that 60% of the proceeds will go to Petaquilla Minerals, 40% to Baseline Financial Group and 10% will go to the administration of a trust.
A bill aims to facilitate access by companies to the capital market allowing operations in more than one stock market.
The bill to be submitted to the Legislature for review includes, among other changes, the creation of a market for trading of fixed income titles and improving business access to the market as a financing alternative.
An announcement has been made for a funding line for micro, small and medium enterprises without collaterals such as mortgages, wage guarantees or financial analysis.
Using a methodology developed by Harvard University, which measures the skills, knowledge and abilities of the applicants, Costa Rica's Bancrédito bank will provide loans to small and medium enterprises.
Its well known and because it has never been well addressed, the little access to credit for entrepreneurs remains a problem in Central America.
Analysis by David Casasola in his article on the blog of the National Economic Research Center (CIEN by its initials in Spanish) states that "this does not mean that there are no funds available in the banking system for people who want to start a business, but rather that the characteristics of the majority of entrepreneurs (low levels of education, geographic location, lack of assets to support a loan, etc..) are not compatible with traditional banking criteria for a loan and to pay the high interest rates to an agency which is far away from their community. "
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