Honduras: Rise in Savings During ConfinementWednesday, June 24, 2020 In the scenario of the health crisis and the decreed quarantine, it is reported that as of April, the balance of savings deposits of individuals amounted to $5,283 million, 15% more than the same month in 2019. At the beginning of the year the authorities of the Central Bank of Honduras (BCH) estimated that for this year deposits in the financial system would increase by about 8%, however, this figure has almost doubled. Digital Environment: Center of All InteractionsWednesday, July 8, 2020 The health crisis, quarantines and social distancing measures in Central American countries, forced individuals and companies to accelerate the adoption of new technologies, which caused the digital to become the center of all interactions. In this scenario of covid-19 propagation, companies have had to migrate to the digital at great speed. The digitalization plans that companies were planning to implement in a period of 1 to 3 years are now being implemented in a few weeks, according to an analysis called "The Digital Agenda: Opportunities for the Service Sector", prepared by the Market Intelligence Unit of the Guatemalan Export Association (Agexport). Health and Safety: Protocols for Companies FormalizedMonday, July 13, 2020 In order to reactivate economic activity in Panama, the authorities of the Ministry of Health published in the Official Journal the guidelines of strict compliance for companies and workers. Although in mid-May it was announced that as a result of the covid-19 outbreak companies will have to submit to strict compliance with some rules, the protocols were made official with the publication in the Official Journal of Resolution No. 198 of July 10, 2020. Reduced Working Hours: Extension until March 2021Friday, December 11, 2020 The bill that extends until March 2021 the validity of the regulations that allow companies to reduce working hours was approved in the first debate. In March 2020, when the first cases of covid-19 were registered, the "Law Authorizing the Reduction of Working Days following the Declaration of National Emergency" was approved. The validity of this regulation expires in December of this year, but a legislative project was approved in the first debate that seeks to extend the validity of the regulation until March 2021. Business Model ReengineeringWednesday, October 7, 2020 Understanding audiences and visualizing the client as the center and reason for the company's existence is fundamental to adapting business models to the new commercial reality. The statistics, trends and projections that were used to analyze and define business models and strategies before the pandemic lost their validity due to the emergence of a new economic and commercial reality. Economic Reopening: Sanctions in GuatemalaFriday, October 16, 2020 Arguing that this is misleading advertising, the Directorate of Consumer Services has sanctioned businesses that offer "covid-19 free zones" in the country's capital. According to Guatemalan authorities, five establishments have already been sanctioned, since these businesses have offered free covid-19 tests or masks that ensure total protection against infection, which is classified as misleading advertising. Costa Rican Economy Slowly RecoversFriday, November 13, 2020 After the IMAE reported year-on-year variations of -9% and -8%, respectively, in July and August, during September the Costa Rican economy continued to recover from the impact of the health crisis by reporting a 6% drop in production. The Central Bank of Costa Rica (BCCR) reported that the economy is in the process of recovery, as a result of the process of reopening and gradual lifting of sanitary restrictions, which were imposed following the outbreak of covid-19. However, the upturn so far is not enough to fully recover the loss in production of the previous quarter, so the level of activity is still lower than in the last quarter of 2019. Tourism in 2020: Year to Forget in NicaraguaWednesday, December 23, 2020 In the context of the health crisis generated by the outbreak of covid-19, businessmen of the sector foresee that at the end of 2020 the tourism industry will add revenues of about $176 million, an amount that would be 66% less than that reported in 2019. The estimates of the National Chamber of Tourism of Nicaragua (Canatur), are more pessimistic than the projections of the Nicaraguan Institute of Tourism (Intur), since according to the business association the income will amount to $176 million and according to the government institution it will add $216 million at the end of the year. Costa Rica Applies New Mobility RestrictionsMonday, April 26, 2021 In order to reduce the effects of the pandemic that caused the outbreak of Covid-19, from April 27 to May 16, there will be restrictions on vehicle traffic from 9:00 p.m. to 5:00 a.m. the following day. Given the speed of the increase in the number of infections and hospital occupancy, some of the most severe epidemiological data since the beginning of the pandemic, the health authorities made the decision to change the restriction schedule, according to an official statement. Panamanian Economy Falls 6%Friday, May 28, 2021 During March 2021, the Monthly Index of Economic Activity registered a -6% year-on-year variation, a decrease that is attributed to the effects of the sanitary emergency caused by Covid-19. According to the most recent report of the General Comptroller's Office of the Republic, the Monthly Index of Economic Activity (IMAE) accumulated from January-March 2021 showed a decrease of 10.06%, compared to the same period of 2020. U.S. Recommends Not to Travel to Central AmericaWednesday, April 21, 2021 Arguing that there is a risk due to the Covid-19 outbreak and that in some areas precautions should be taken due to criminal acts, the US advised its citizens to reconsider travel to El Salvador and not to travel to the other countries of the region. In the case of El Salvador, the alert level is 3, which recommends its citizens to reconsider their travel. Liquor Sales: Pressure to Lift RestrictionsTuesday, June 9, 2020 In Panama, the guild of companies in the alcoholic beverages sector are asking the authorities to put an end to the Dry Law, which has been stricter in the context of the covid-19 outbreak and the decreed home quarantine. In order to reduce crime and avoid crowding, the authorities had prohibited the consumption, sale and distribution of alcoholic beverages until the end of the State of Emergency decreed by the spread of covid-19. Tourism: Far Light at the End of the TunnelWednesday, June 10, 2020 The lack of definition of the date when Guatemala's borders will be reopened causes uncertainty among local entrepreneurs in the sector, which is going through one of the most severe crises due to the covid-19 outbreak. As a result of the spread of the virus, the Guatemalan authorities suspended commercial flights and closed the borders to tourists. In addition, tourist sites were ordered to be closed and the movement of people between departments restricted. Mining Company: Legal Measures to Resume OperationsWednesday, June 10, 2020 Minera Panama filed a protection action, because since April 6 the Ministry of Health ordered the closure of the Donoso mining project, for reporting an outbreak of covid-19 among the company's staff. The Ministry of Health (Minsal) suspended the activities of the mining project located in the province of Colon, after several workers became infected with covid-19 and two of them died from the virus. Masks and Alcohol Gel: New Price Range FixedMonday, March 30, 2020 Authorities in El Salvador agreed that the prices of the masks should range from $0.73 to $2.67, while for alcohol gel it will be from $1.14 to $24.25, depending on the brands and presentations. In the context of the propagation of covid-19, this is the second time that the authorities set a price range for these products, since on March 17 it had been dictated that the price of the masks should range from $0.20 to $2.60, while for alcohol gel it will be from $0.95 to $3.94. |
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