In Costa Rica a law has been proposed that would benefit tourism businesses suffering from financial problems - caused by the 2008 crisis!! -, readjusting their debts and repurchasing and returning their lost assets.
Beyond the dark aspects of the bill - among them that it is not known who the beneficiaries are - its purpose seems rude and unfair to entrepreneurs who managed to overcome the crisis of the last decade through proper management and undoubtedly a lot of sacrifice, and who today have healthy companies.
The Investment Committee of the Millennium Challenge Corporation has given approval for the implementation of Fomelino II in the marine coastal area of El Salvador.
This "is a momentous step for the realization of this strategic commitment which will bring significant benefits to the population of the coastal area and the country in general," said Alexander Segovia, Technical Secretary of the Presidency.
Both governments have agreed to build a baseball stadium for 30,000 spectators with an investment of $30 million from Taiwan plus another $5 million from Nicaragua.
"This week the honourable Ambassador of China Taiwan in Nicaragua, Ingrid Hsing and me will be signing the draft, which sets out additional conditions to the memorandum of understanding signed between the Foreign Minister of Nicaragua and the Taiwanese Chancellor," said Marlos Torres, director of the Nicaraguan Institute of Sports (IND).
A Wall Street Journal article has pointed out the futility of the Northern Longitudinal Highway and a recession in the Salvadoran economy over the last 10 years.
"... The Northern Highway (which passes through some of the least populated areas of the most densely populated country in Central America) is an unfinished work, courtesy of the North American taxpayers," noted an article on Online.wsj.com.
"In the 50 years of operation in the country, USAID has assisted with over $1.2 billion aimed at agricultural and community development programs, to large construction projects and expansion of public facilities", reports Panamaamerica.com.pa .
80% of rice companies are experiencing problems obtaining credit.
2008's global food crisis and the financial crisis that followed in 2009 have led to big losses in El Salvador's agricultural sector.
"Rice growers' bad luck continues and signs of recovery seem ever further away, especially with the government deciding to import 7,000 tons of rice this year through the UN World Food Program (WFP)," reports Elsalvador.com.
The coming Tuesday Honduras will receive an IMF technical mission to negotiate the new economic program.
The team will be headed up by Przemek Gajdeczka, who also led the group that came in March for the Article IV consultation. Polish Gajdeczka will come with five subject area experts, especially in fiscal policy, which is what the Porfirio Lobo Sosa government is particularly struggling with.
To obtain a second donation from the Millennium Challenge Account, the country must reach the objectives of the program in the established dates.
The Millennium Funds Program (FOMILENIO), was started in El Salvador in September 12, 2007, with a total donation of $460.9 million, contributed by the United States Millennium Challenge Account (MCA).
An IMF mission conducted discussions on the 2010 Article IV consultation with Honduras during May 17-27. The mission met with President Porfirio Lobo, the government’s economic team, as well as private sector and civil society representatives.
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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.