American Expatriate Costa Rica

UCCAEP alerts on economic situation after crisis in Nicaragua

The business sector, represented by the Costa Rican Union of Chambers and Associations of the Private Business Sector (UCCAEP), condemns the crisis in Nicaragua, which has claimed the lives of many people.

The union rejects any violation of the human rights of Nicaraguans, the vast majority of them young university students, who continue to be victims of this wave of violence and repression.

We have supported all the efforts led by the government of Costa Rica to stop this critical situation in Nicaragua. However, we insist that much stronger decisions should be made, since the effects have been minimal. The wave of violence and the implications of the political crisis in Nicaragua could have a more intense impact on us in a few months,”

said the president of the union, Gonzalo Delgado.

The impact on the economy will not only be for Nicaragua, but for the entire Central American region, as shortages of some products begin to be reported and the commercial balance of regional integration is put at risk, causing considerable losses for commercial and industrial sectors.

In the case of the commercial sector, possible effects are reported for more than 640 thousand jobs throughout the region, while the Costa Rican industrial sector recorded daily losses of 2.6 billion colones in exports, figures that could be multiplied in the absence of commercial exchanges constant between the countries,”

stated Delgado.

According to information published by the Nicaraguan press, it is estimated that the losses in that country already exceed $600 million and it is estimated that will take almost five years to resume the economic path it had.

Although in regional negotiations with the government of Costa Rica it was possible to work on a plan to implement the transit of goods through the ferry to El Salvador, it is important to guarantee a safe and fluid transit through Nicaragua by land.

Another issue, which is a priority, is the migratory flow of Nicaraguans to the country,

a situation that we hope will be managed in a humanitarian and agile way, but avoiding internal security problems, as well as inconveniences at border crossings,”

said Delgado.

crhoy.com