Is my spanish rusty or.....

Submitted by Amanda on 15 July, 2008 - 09:26.

Did I really read in today's paper that Ortega has encouraged people behind on their micro-finance debts to take over the bank offices to have their debts "renegotiated" Yikes! I have seen a lot of change in the four years while I was away. The majority of it is not the most heartening. I see stagnant wages for the poorest, ever rising food prices, no one really need mention the fuel/ gas/ electric situation, and then there is the "dollarization" of Managua's "fancy" restaurants...which irks me to no end. I hear from old friends and colleagues that NGO's are pulling back because of the current government...and now this. The government actually encouraging the basic destruction of the micro-finance projects from the inside out. What will happen to Nicaragua if the micro-banks pull out? This is the main, affordable form of small business loans for the many micro and small businesses which form the basis of Nicaragua's economy. Micro-banks have always had a bit of an uphill battle here, with people more accustomed to outside forces coming to give, rather than lend. Over the years however, serious progress was being made with regards to a local paradigm shift. Is Ortega now helping to throw 10-15 years of work out the window? And what becomes of the people he so cares for when there is no one to help them open or grow their businesses? This will be interesting and most likely tragic to watch.

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Sector after Sector

Submitted by bluewater on 16 July, 2008 - 20:39.

Energy- Attempted confiscation of Exxon port facilities, extortion of Fenosa into 16% share of electricity distribution,Polaris GeoThermal attempted plant closing for alleged environmental violations. Venezuelan oil aid is totally a black hole and serves as a cash cow for ruling party.

Real Estate- Attempted extortion by former FSLN diputado on video tape for Tola development project. Virtual confiscation of all beachfront property in Nicaragua by the Procuraduria who must give approval for all real estate transactions near the ocean. Presidential order to police to not to evict illegal squatters.

Tourism- Attempted confiscation of Barcelo Montelimar. Refusal to pass Coastal property law. Change of rules on INTUR Law 306 project applications.

Banking- refusal to pay government issued bonds (CENIS) and change of heart after terms are renegotiated more favorably to government. Resulting refusal by public to purchase government treasuries at Central Bank auctions, drop in Nicaraguan sovereign credit rating. Banco Procredit and microfinanciera assaults and closures in Jalapa after Ortega tells the debtors not to pay their obligatons. Caja Rural Nacional (Caruna) is run like a piggy bank without controls by regulators and serves as a public-private banking company with virtually no control by the Superintendent of Banks.

Agriculture- False promise of cheap Venezuelan fertilizer to the poorest farmers that has arrived late and now selling at market price.

Construction- Home building and commercial construction in Managua down despite record need for decent housing. (minimum 500,000 units nationwide). The beat goes on and on and on....

Your spanish is fine...

Submitted by GreenGold on 15 July, 2008 - 10:06.

. You read correctly. Micro-finance companies are usurious according to Comandante 38% (and falling) and tools "por el imperio yanqui". Instead of doing something constructive, e.g., offering to use some of HIS $520+ (and growing) ALBA/Albanisa-Caruna slush fund to capitalize the new Banco de Fomento, he incites "The People" to commit crimes against the private sector. Arriba los Pobres?

You ask: "And what becomes of the people he so cares for when there is no one to help them open or grow their businesses?"

Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong.

I am totally aware of who is on top

Submitted by Amanda on 15 July, 2008 - 10:26.

of Ortega's list of priorities....unfortunately "la gente del pueblo" are nowhere to be seen around there. When will they realize this?

Strange how yesterdays

Submitted by Billy Bob on 17 July, 2008 - 18:28.

Strange how yesterdays Sandinista rallies were all with new banners carried around by hi-end cars.

Follow the leader

Submitted by bluewater on 17 July, 2008 - 20:38.

Kind of like the pair of $120,000.00 dollar Mercedes Benz SUV's driven by President Ortega?