The Central American Bank for Economic Integration has announced that this month it will deliver 55% of the funds required to implement the customs union between the two countries.
The funds pending for the implementation of the Customs Union between Guatemala and Honduras are being managed by the Central American Bank for Economic Integration (BCIE) for a total of $1.5 million for delivery in February.
The Inter-American Development Bank has warned that it will make conditional a loan of $419 million for the 2016 on restructuring of the Tax Administration and adoption of anti-corruption measures.
The loans granted by institutions such as the Inter-American Development Bank (IDB) and the World Bank to Guatemala are in danger if key transparency aspects relating to the functioning of the Superintendency of Tax Administration (SAT) are not restructured, as well as the Law on Procurement and Contracting State.
In 2016 the Latin American forum that brings together over 500 companies from the service industry will be held in San Jose.
From a statement issued by the Ministry of Foreign Trade of Costa Rica:
San Jose, Costa Rica, November 26, 2015: The Ministry of Foreign Trade (COMEX), the Foreign Trade Promotion Office (PROCOMER) and the Costa Rican Coalition for Development Initiatives (CINDE), announced that the IDB has named Costa Rica as the host for 2016 for one of the most important events in Latin America for the corporate services industry: "OUTSOURCE2LAC". The decision was made official last week, during the fifth edition of the forum, held in Guadalajara, Mexico.
The President of the IADB has advised Costa Rica to make a tax reform to raise taxes arguing that today the teetotum indicates "everyone gives".
EDITORIAL
The use of the old fashioned game of a faceted spinner by the head of the hemispheric institution as example, deserves to have the whole story told: the person who spun the teetotum was the Costa Rican government, the same participant of the "game" who on their previous turn benefited from the teetotum when it landed showing "TAKE ALL". Luis Alberto Moreno is saying that the serious fiscal crisis which the country now finds itself in means that now everyone must contribute to its solution. That means aproving more taxes.
On August 6th and 7th 250 entrepreneurs from more than 20 countries will be meeting in Guatemala to discuss issues of innovation, challenges, trends and business opportunities in the services sector.
From a statement issued by the Guatemalan Export Association (AGEXPORT):
Guatemala expects 250 international companies at the V Annual Conference "Global Services: Latin America in the race for talent".
"The region still needs to install at least 7,000 MW by the end of the decade and make investments of between $12,000 million and $18,000 million."
While in Panama the energy supply needed to meet the demand of its growing economy falls short, to the north of the region, in Guatemala, there is surplus energy but generators are unable to sell it due to the lack of regulations governing the futures contracts and because the Siepac (Regional Electricity Transmission System) project is still does not working 100%.
The problem with income tax exemptions is that they favor high-return projects that would probably have been made anyway.
From an IDB document entitled "The effectiveness of tax incentives: The case of export processing zones in Costa Rica, El Salvador and the Dominican Republic".
Introduction and Summary
Policies encouraging investment make use of a variety of instruments.
An IADB study has revealed that people exposed to information about corruption are more likely to commit it themselves.
EDITORIAL
An article in Crhoy.com analyzes the report "Corruption as a Self-Fulfilling Prophecy: Evidence from a Survey Experiment in Costa Rica", produced by researchers at the Inter-American Development Bank, which concludes that "...
Between October 28th and 30th, Guatemala City will host a meeting between businessmen from various productive sectors in Spain and representatives from Central American companies.
This multilateral meeting aims to find business opportunities in the energy industry, transport, water and real estate development, among others.
The identification of the complete sequence of the 22 chromosomes of Arabica coffee can be used as a basis for improving other coffee varieties and their adaptation to climate change.
From a statement issued by the Inter-American Development Bank (IDB):
ARMENIA, Colombia - Today the complete sequence of the 22 chromosomes of coffee has been announced which aims to accelerate the process of selecting plants that respond to local climatic conditions and the specific needs of coffee farmers. The information available for public access, was announced to delegates from various coffee producing countries within the framework of the second regional workshop on climate change and coffee growing in the Conference of the Association for Science and Information on Coffee.
An announcement has been made that an agreement will be signed between the two governments to build ten border crossings using funding from the Inter-American Development Bank.
From a press release issued by the Government of Guatemala:
250 million dollars will be invested in the installation of 10 border posts between Guatemala and Mexico.
The governments of Guatemala and Mexico will sign an agreement to build 10 border crossings between the two countries at a cost of $250 million, announced the president, Otto Perez Molina.
Coffee regions of Honduras, Guatemala and El Salvador have obtained certificates of geographical origin for export.
Acatenango in Guatemala, Apaneca-Llamatepec in El Salvador and Honduran Western Coffee's in Honduras, have obtained the certificates that guarantee the quality of the coffee produced in these geographic regions.
"The appellation goes beyond providing a good image for the country, it is a strategy for competitiveness for coffee growing," said Miguel Medina, vice president of the National Coffee Association (ANACAFÉ). "
The link through SIEPAC allows Honduras to purchase cheaper energy from Guatemalan private power generators.
The opening of the penultimate stage of the Central American network opens up a new way for Honduras to obtain energy from outside of its domestic market at lower prices.
"The connection between Guatemala and Honduras "will increase transmission capacity in the regional energy market," said Rene Gonzalez, Executive Director of the Regional Operating Agency (EOR).
Countries may submit projects to the Inter-American Development Bank and the Japanase International Cooperation Agency in order to apply for funding.
From this week the International Cooperation Agency of Japan (JICA) and the Inter- American Development Bank (IDB ) will be looking at various opportunities to fund renewable energy and energy efficiency in the region.
The IDB is discussing providing $300 million in financing, of the total cost of $700 million required for the project.
The pipeline which Petroleos Mexicanos (Pemex) is considering building at a cost of $700 million, between Guatemala and Mexico, could be funded by the Inter-American Development Bank (IDB) which is analysing provision of a loan of $300 million, as confirmed by Guatemalan President Otto Pérez.