Nicaragua Rules Out Creating Security Tax

While other Central American countries are preparing taxes to combat insecurity, Nicaragua declares that it is not an appropriate option.

Tuesday, August 2, 2011

The president of Guatemala, Alvaro Colom, proposed to his peers in the isthmus region the creation of specific tax to combat organized crime and the violence it generates.

Although the proposal didn’t prosper at the meeting of the Council of Finance Ministers and Central Finance, both Costa Rica, El Salvador and Honduras are working on the implementation of a national tax for their own security plans.

Alberto Guevara, Nicaragua's Finance Minister, said that while his country needs more resources to combat this problem, it does not considered it desirable to charge business more via taxes.

"The Nicaraguan Foundation for Economic and Social Development (FUNIDES), in its most recent report shows that tax and the social burden being put on a business in Nicaragua is the highest in Central America, representing 63.2 percent of the before tax profit levels.

Consequently, says Guevara, what the government needs to do is to achieve greater efficiency with the taxation resources it has and it build up its taxpayer base", reported

More on this topic

Change of Chairman at Central Bank of Nicaragua

February 2012

A week after Antenor Rosales declared that international reserves "are not to be managed according to someone’s whims and preferences", he has been dismissed by President Ortega.

Alberto Guevara, hitherto the Minister of Finance, is the new Chairman of the Board of the Central Bank of Nicaragua. Guevara said that the economic policy of Daniel Ortega’s government will not change.

El Salvador: $24 Million Public Security Plan

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President Mauricio Funes will discuss this public security plan with the private sector.

The Government estimates that $24 million will be needed to execute this plan to combat crime.

At a meeting in the Presidential House, the president will discuss his plan with ANEP (National Private Enterprise Association) and FUSADES (Salvadoran Foundation for Economic and Social Development).

IDB Increases Support to Central America

March 2009

During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.

Proceso Digital published on its website: "’At this juncture, we have to lend more and that is our obligation and why we are here,' said the head of the IDB in his opening speech.

Central America to Request Further Assistance from the IDB

March 2009

At the IDB meeting which is being held in Managua, the countries will request to operate with a higher fiscal deficit in their public finances.

Prensa Libre published on its website: "The Nicaraguan Minister of Finance and Public Credit, Alberto Guevara, said that a regional joint position on different subjects will be accorded for presentation at the annual meeting of that organism’s Board of Governors.

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