Archive for the ‘Economics’ Category

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Ortega Hands Nicaragua Canal Project to Untested Chinese Firm

September 16, 2013

Sticking to his grandiose promise of building an ocean-to-ocean canal through Nicaragua, President Daniel Ortega has decided to place his faith – and a huge swath of national territory – in the hands of an untested Chinese firm whose mysterious owner, telecom tycoon Wang Jing, promises nothing less than to “change the world.” Read the rest of this entry ?

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New Nicaraguan Gold Rush Sparks Local Opposition, State Repression

May 16, 2013

A recent police crackdown on protesting “guiriseros” (artisan miners) in the central Nicaraguan town of Santo Domingo has raised new questions about the government’s ‘come-on-down’ approach to foreign gold mining firms, which have been raking in riches of late thanks to increased production and soaring prices. Read the rest of this entry ?

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Calls For “Re-Nationalization” Of Chile’s Privately-Controlled Water Resources

May 16, 2013

Millions of residents in Santiago were left high and quite literally dry in recent weeks by a series of water service cuts that some Chilean citizens groups and politicians are calling a wakeup call to the perils of privatization.

The first of the disruptions hit the Chilean capital between Jan. 21-22 after flooding from a heavy rainstorm flushed copious amounts of sediment into the Río Maipo, Santiago’s principal source of drinking water. The event forced Aguas Andinas, the city’s primary waterworks company, to temporarily shut three of its treatment plants and thus cut the water supply to an estimated 2 million residents. Complicating matters was the timing of the problem – at the height of the southern summer. Between December and March, daytime temperatures in Santiago regularly top 30˚C (86˚F). Read the rest of this entry ?

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Chile Divided Over Corporate-Friendly Fisheries Bill

May 10, 2013

Against the objections of artisan fishers, environmental groups and some opposition lawmakers, Chile’s Congress is inching closer toward approving a controversial government-backed overhaul of the country’s fisheries regulations. Read the rest of this entry ?

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Nicaragua Creeps Ahead With Pricey ALBA Oil Project

May 10, 2013

Just months after pledging to build a long-dreamed-about “Nicaragua Canal,” the government of President Daniel Ortega is now turning its attention to another dizzyingly expensive megaproject: a Venezuelan-backed oil pipeline and refinery scheme dubbed the “Supremo Sueño de Bolivar,” Bolivar’s Supreme Dream. Read the rest of this entry ?

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Sunny Economic Outlook Boosts Ortega As Election Nears In Nicaragua

January 7, 2012

Construction workers in Nicaragua (Flickr/hhbcphotos)

A recent economic upswing in Nicaragua couldn’t have come at a better time for President Daniel Ortega, who is quickly closing in on an unprecedented – and arguably unconstitutional – third term in office. Nicaragua’s upcoming general election is set to take place Nov. 6. Read the rest of this entry ?

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Salvadoran President Mauricio Funes Puts His Mouth Where The Money Is

April 17, 2011

President Mauricio Funes (Courtesy of Flickr)

Since assuming office in the midst of a global financial crisis, President Maurico Funes has taken a mostly wait and see approach to El Salvador’s economy, opting to ride out the storm while focusing his energies on areas such as public security and foreign policy. The new year, however, appears to have brought with it a shift in priorities for the popular Salvadoran leader, who is now promising a series of measures to breath some life into the stagnant economy. Read the rest of this entry ?