Nicaragua cuts tariffs in bid to control prices

Nicaragua's government reduced or abolished tariffs on imports of several basic consumer products in an effort to keep prices under control.

Thursday, May 29, 2008

"We've lowered the tariffs to try to ease the pressure on prices," said Orlando Solórzano, the industry and trade minister.



More on this topic

Nicaragua Allows Imports of Another Bean Variety

September 2010

Faced with potential bean shortages, the government has permitted an additional bean variety to be imported.

Since 11 September the country has enabled the "criollo" red bean to be imported and it is now proceeding to allow another similar variety in order to help supply the population.

Panama Lowers Tariffs on Imported Products

July 2009

Out of a 121 tariff lines modified, 82 were lowered, including cement, tuna, sardine and codfish.

The Cabinet of Ministers of Panama issued a decree authorizing the reductions, with the objective of guaranteeing supply of basic goods basket products.

In addition to the reduction of 82 tariff lines from the National Imports Tariff, 22 products registered increases, and 17 new lines were created.

Guatemala gets green light for zero tariffs to fight high food prices

June 2008

Central American trade authorities authorized Guatemala to impose zero tariffs on 10 products as a contingency measure.

The Council of Ministers for Central American Integration (Comieco) said the measure would reduce the impact of high food prices. Comieco did not say what products were involved.

Panama tariff policy spices up debate on inflation

May 2008

Panama has abolished import tariffs on tea, garlic, mustard, spices and seasonings while they remain in force for rice, corn, dairy products and chicken.

Consumer associations complain that the policy will do nothing to curb inflation in prices of basic food staples. But that is not the aim, said former economy minister Frank De Lima. The government wants to protect producers, not consumers, De Lima added.

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