Consumers money is still being used to fund losses by the state-owned internet service provider, which have exceeded $100 million in the last six years.
At the expense of consumers - via prices for energy and telecommunications- Costa Rica is still keeping running state enterprises whose inefficiency has been proven. This time, Nacion.com reported that the Costa Rican Electricity Institute (ICE) covered the losses of Radiographic Costarricense (RACSA) with lending and a capital injection to that subsidiary.
The state run oil company in Costa Rica registered losses above $24 million during the first nine months of 2015, despite having the highest prices in the region.
In the first nine months of 2015 the Costa Rican Oil Refinery lost more than $24 million. The state run company, which has had a monopoly in refining and sale of fuels in Costa Rica for more than half a century, has payroll costs representing 56% of its total expenditure.
The Colombian company HEMCO has suspended its activities due to violence shown by a group of artisanal miners who blocked the exit of materials and destroyed company property.
Aiming to ensure the safety of its employees and raw materials which are highly toxic, the Colombian mining company has suspended operations until the violent environment that they faced, which is affecting business and the economic climate of the municipality, has been stablalized.
While the canal expansion is not finished the Maersk and Evergreen shipping lines are transporting goods in post Panamax ships through the Suez Canal.
The Panama Canal Authority (ACP) estimated that the temporary transfer of some of the services of Evergreen and Maersk Line shipping means they will lose out on $44 and $30 million respectively. To date, the expansion works are 75% complete and it is expected that the new locks will begin operating in January 2016.
With the delay in the entry into force of the AA, sugar producers in El Salvador will lose out on $2.5 million this year, from not exporting 10,000 tons to Europe.
"We could lose out on about $2.5 million, that's both producers and millers," said Julio Arroyo, CEO of the Sugar Association of El Salvador (AAES), adding that they still have the possibility to make the shipment and they have not looked for other recipients for the 10 thousand tons. "Before taking a decision we are waiting for the authorities to resolve this issue as soon as possible."
The Intervention Commission, which failed to initiate a recovery of Hondutel, has missed its deadline, and now the Honduran government has no idea how to reverse the company's crisis.
President Porfirio Lobo has expressed concern over the crisis facing the state enterprise, as the company's budget has not been approved, hindering the start an investment plan to recover it, as well as making it difficult to pay salaries.
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As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.