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Nicaragua: Ortega begins Third Term as President

Article Summary:

Nicaraguan President Daniel Ortega began his third term as president on Tuesday, and is still facing many unfinished agendas, at the top of the list is poverty and a sluggish.

Photo Credit: Estrategia y Negocios

Original Article Text From Estrategia y Negocios via Google Translate :

Nicaragua: Ortega Begins Third Term as President
Although Nicaragua, in the five years of management of Daniel Ortega, achieved economic stability, record-breaking exports and foreign investment and growth rates between three and four percent, is still “insufficient” to overcome social disadvantage, according to economists and the government.

The Foundation for Economic and Social Development (FUNIDES) estimates that Nicaragua needs to fight poverty steadily grow to 6 or 7 percent over the next 20 years, very ambitious goal in good times, much more in a crisis scenario as the current international.

The Nicaraguan economy is the weakest of Central America, with a traditional agricultural production, heavily dependent on foreign aid per capita GDP of just $ 1,200 and a foreign debt of nearly 3,900 million dollars, according to official figures from 2010.

45 percent of the 5.8 million people are affected by poverty and a huge army estimated at 53 percent of the population able to work are unemployed or engaged in low paid informal activities to survive.

Ortega’s return to power in 2007 had raised fears that derail entrepreneur economy, but Ortega pledged to maintain economic stability, which at the end of his tenure has been recognized by international bodies like the International Monetary Fund ( IMF).

Ortega drove parallel social programs and subsidies for the poor, as the iconic “Zero Hunger” in rural areas. Faced with criticism of opponents by the persistence of poverty, Ortega said simply that the improvement is not noticed because of the enormous social lag.

The government, however, insists on its achievements. Between 2007 and 2011 “created the conditions and basis for promote further development of the country,” said the official portal The Digital 19 Deputy Minister of Finance, Ivan Acosta.

He recalled that his first act was to restore Ortega energy system was in collapse resulted in blackouts of several hours a day and seriously affected the economy, not to mention the daily life of the population.

Now the Sandinistas says his priority will be to implement an educational strategy as a development because without access to technology, education and knowledge to transform the economy, a country can not be competitive.

Thanks to the overwhelming result of the election, Ortega (66 years) will rule with absolute power by having majority in the parliament and its promises of abtenerse of “cause dramatic changes” have failed to quell the doubts of many sectors.

“If Ortega wants to make things right, now has political and institutional capacity to do so,” he told AFP the former deputy finance minister, Rene Vallecillo.

But the government should address outstanding issues that were not asked in 2011 for being an election year, such as a tax reform, social security changes and focus on energy subsidies.

These measures demanded by international lenders, “the end will hit the pockets of the popular sectors and may create social conflicts,” said Vallecillo.

The sociologist and economist, Oscar Rene Vargas felt that all changes to the development that Ortega raised the “can do” if cooperation continues to have the oil of Venezuela.

However, he noted that the new government will begin “in a complex situation” by the international economic crisis is looming to which Nicaragua is no stranger.

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From Estrategia y Negocios

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