Some days after having initiated the administrative procedure against Aldesa Puesto de Bolsa, the judicial authorities of Costa Rica carried out several raids in the homes of the directors of the entity and its offices.
On May 24, through a relevant fact, the General Superintendence of Securities (Sugeval) explained that investigations would be made to determine whether or not the stock exchange carried out the necessary accounting records of accounts receivable payment operations for nine months.
The restaurant chain specialized in Krispy Kreme donuts already has three sales points in Guatemala and plans to open its fourth store in the Portales Shopping Center in Zone 17.
In January of last year, it was reported that the chain opened its first restaurant with a capacity for 30 people in zone 15 of Guatemala and that its owners planned to open more stores during 2018.
In Costa Rica, the Gollo chain of stores invested $2 million in the opening of three new sales points in Guachipelín, Tibás and San José.
Representatives of the company dedicated to commercialize electrical appliances, furniture and other similar articles, informed that $1 million was invested in the operation of the store in Guachipelín, and in the stores in Tibás and San José, the investment totaled $500,000 each.
The decision of the Legislative Assembly to not endorse the bill that seeks to approve the contract between the government and Minera Panamá, shows the fragility of the contracts between the Panamanian state and companies.
The obstacles to the mining project date back several years, since the legal dispute began in 2009, when the Environmental Impact Center (CIAM) filed an appeal of unconstitutionality against the contract granting a 20-year concession to exploit and commercialize the gold, copper and other mineral resources of Cerro Petaquilla.
One of the issues was made in local currency, equivalent to $1 billion over 7 years, and another issue in dollars for $1.5 billion over 30 years.
The local currency transaction was conducted at a 9.75% interest rate, while the 30-year issue was conducted at a 6.492% interest rate, the lowest issued by the country for this term, informed the Ministry of Finance in a statement.
The bill that in Costa Rica authorizes the Alvarado administration to issue $1.5 billion in debt in the international market has already taken the first step in the Legislative Assembly.
At the beginning, the Treasury Department requested authorization to issue $6 billion within six years, however, the committee in charge of the file modified the text so that the limit would be $1.5 billion.
So far in the Morales administration, the Guatemalan government has raised $2.4 billion through the issuance of Eurobonds, but the quality with which the funds collected are being executed is questioned.
The last issuance of Eurobonds was on May 23, when the government issued $700 million over 30 years at a 6.12% rate, and $500 million over 10 years at a 4.9% rate.
In the Dominican Republic, contracts were approved for the development and operation of four parks in export processing zones and 13 permits for the installation of companies.
The National Council of Export Processing Zones (CNZFE) reported last May 21 that it approved permits for two new parks of processing zones to be built in Boca Chica, and another in Nigua.
In Costa Rica, the General Superintendence of Securities initiated an administrative sanctioning procedure against Aldesa Puesto de Bolsa, arguing that the company would not have kept the necessary accounting records.
On May 24, in a relevant fact published by María Luisa Fernández Garita, head of the General Superintendence of Securities (Sugeval), it was explained that investigations will be made to determine if the stock exchange post did not keep the necessary accounting records of accounts receivable payment operations during nine months.
The government was able to issue $700 million over 30 years at a 6.12% rate, and $500 million over 10 years at a 4.9% rate.
The operation was carried out through the bank Citigroup Global Markets Inc, one of the three most important investment banks in the world, chosen through a competitive process, informed the Ministry of Finance.
Partly because of the government's reduced availability of resources from domestic sources, public investment in the first three months of the year totaled $87.7 million, 52% less than in the same period in 2018.
According to reports from the Ministry of Finance and Public Credit, the Public Investment Plan (PIP), which includes projects for the construction, expansion and rehabilitation of infrastructure, decreased by $95.7 million between the first quarter of 2018 and the same period of 2019, from $183.4 million to $87.7 million.
The Ministry of Finance placed Treasury Bonds in local currency for amounts equivalent to $26 million and $13 million, with terms of 15 years and 20 years, respectively.
The global amount awarded to date totals $858.6 million, corresponding to the 2019 Fiscal Year, of which $26 thousand correspond to the awards of treasury bonds for small investors, informed the Government.
The interest in the local and regional market, and the search for efficiency mainly in labor costs, are the factors influencing foreign companies to decide to invest in El Salvador.
A study by the Central Reserve Bank (BCR) Researchers Network, called "Characterization and Determinants of Foreign Direct Investment in El Salvador", analyzes the factors motivating foreign companies to invest in the country.
Empresa de Transmisión Eléctrica de Panamá issued seven-year local market debt securities with a 3.85% interest rate.
Empresa de Transmisión Eléctrica S.A. (ETESA) made its first issue of corporate bonds in the Stock Market of Panama, for the sum of seventy-five million dollars ($75 million) to be used to finance investment projects included in the Expansion Plan of the National Interconnected System (PESIN) of 2018, said the institution in a statement.
To solve the congestion problem affecting Guatemala's port network, it is estimated that at least $133 million needs to be invested to improve the operations of current terminals.
The average standard for port operation is on average 50%, however, currently the country is reaching occupancy limits above 60%, which means that they are reaching congested points that make them less efficient.
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