Costa Rica Coffee Guide

Granada Investors Not Impressed with Sandinistas

October 12, 2007

A group of foreign investors are calling a meeting held in Granada last week with local Sandinista officials a waste of time.

For the most part, the dozen or so business owners and retirees sought reassurance from the governing party that their business  ventures aren’t at risk here under the new Sandinista government. They expressed concerns about corrupt police, seemingly arbitrary building code enforcement, tax increases and energy and water crises.

Mayor Rosalía Castro and Granada’s Sandinista representative Francisco Rodríguez, as well as other local officials took notes and blamed the problems on former administrations, prompting the investor group to question the point of the meeting.

“What did that accomplish?” asked one local businessman, who asked not to be named in print for fear of government reprisal against his business. He said he wanted to stand up at the meeting and demand explanations, but he kept his mouth shut because he didn’t want to risk his business.

Another business owner left halfway through the meeting, saying afterwards that he was too frustrated to sit and listen to excuses and promises.

Rodríguez, who arrived 45 minutes late to the meeting, said President Daniel Ortega’s anti-imperialism speech at the United Nations General Assembly last month might cause some foreign investors to worry about their business interests.

“We’re not against North Americans,” Rodríguez said, before launching into an historic account of U.S. interference in Nicaragua, including support of the Somoza family dictatorship and later the Contras.

 

You may be interested

Some 34 million jobs lost in Latin America due to pandemic
Business
3339 views
Business
3339 views

Some 34 million jobs lost in Latin America due to pandemic

Carlos MANDUJANO / AFP - September 30, 2020

The two aspirers for the presidency of Costa Rica, the evangelical preacher Fabricio Alvarado and the former minister Carlos Alvarado, reach the closing of the electoral campaign for April 1st with a technical draw, according to a poll disclosed this Friday.

CureVac launches second stage of vaccine clinical trials in Peru and Panama
News
21360 views
News
21360 views

CureVac launches second stage of vaccine clinical trials in Peru and Panama

AFP - September 30, 2020

The German pharmaceutical company CureVac announced that it has started Phase 2 clinical trials of its experimental vaccine against Covid-19,…

Costa Rica mired in difficult internal negotiations regarding agreement with IMF
Costa Rica
902 views
Costa Rica
902 views

Costa Rica mired in difficult internal negotiations regarding agreement with IMF

Marco SIBAJA / AFP - September 30, 2020

Costa Rica is immersed in difficult internal negotiations as it seeks an agreement with the International Monetary Fund (IMF) to…