The Tico Times Online Daily Page

Daily Edition: San José, Costa Rica, July 10, 2003

POWER AND SEX APPEAL: Former Nicaraguan President Arnoldo Alemán featured in forthcoming tell-all book written by his incarcerated best friend, Byron Jerez.
AFP

Colón Turns 400
Watch for a turn of the currency odometer today or tomorrow.

The colón, Costa Rica's currency, is expected to reach a selling exchange rate of 400 to the U.S. dollar in its long slide, a result of an ongoing Central Bank policy of mini-devaluations implemented in 1985.
(Click for more)

Latin Pop Group
Robbed by Armed Men
The popular Latin pop group Los Bacilos got a rude welcome to Costa Rica yesterday, when five heavily armed and masked men robbed the band of an estimated $200,000 in sound and light equipment.
(Click for more)

Former Nicaraguan President
Exposed in Forthcoming Book
From inside his prison cell near the Nicaraguan capital of Managua, a former member of ex- President Arnoldo Alemán's inner circle is claiming to have written a tell-all book about the life of the embattled former President, accused of embezzling and laundering $100 million in state funds.
(Click for more)

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July 10

Animé Festival
Japanese cartoons showing today "Réquiema por el Patriota de la Restauración" (Ishin no shishi e no chinkonka), in Japanese, dubbed or subtitled in Spanish at 6 p.m., at Calderón Guardia Museum, Av. 11/13, Ca. 25, Barrio Escalante. Info: 222-6392, 255-1218.

Blues at Café
Calacas Blues is performing the best of its repertoire tonight at 10 p.m., at Jazz Café, San Pedro. Info: 253-8933, only 2-6 p.m.

Last Day for Art Exhibit
Check out José Alberto Arce’s acrylics before the display ends at the García Monge Gallery, Av. 2, Ca. 5. Info: 221-5103.

Colón Turns 400
By Jeffrey Van Fleet
Special to The Tico Times

Watch for a turn of the currency odometer today or tomorrow.

The colón, Costa Rica's currency, is expected to reach a selling exchange rate of 400 to the U.S. dollar in its long slide, a result of an ongoing Central Bank policy of mini-devaluations implemented in 1985.

The Central Bank's daily venta (sell) rate, the number of colones it takes to buy a dollar, is always slightly higher than its compra rate, the number of colones banks give for a dollar.

"The policy has been a result of a need to deal with balance of payments, internal economic stability, competitiveness of locally made products, the government deficit and inflation," Carlos Mora, economic analyst for the Central Bank, told The Tico Times.

The country's currency collapsed at the end of 1980, falling from its longtime official value of 8.6 per dollar, with street sellers offering parallel-market rates as high as 40 to the dollar. Several years of wrangling among the Central Bank, the Legislative Assembly and the International Monetary Fund culminated in the present policy that officially devalues the colón by a few céntimos (100 céntimos to 1 colón) each business day.

The loss in recent years has been about 10% annually, Mora said. He described the devaluation policy as manageable for the economy because it allows the business sector to forecast financial needs.

Mora stated that the Central Bank has no final target value in mind for the colón, after which the mini-devaluations would cease.

"The present policy will continue until such time that the government decides to let the colón float again," he said, emphasizing that no such plans to change are in the works.

The Central Bank announced last month that it would retire various small-denomination bills and coins, rarely seen and with virtually no value anymore, due to the falling exchange rate.

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Latin Pop Group Robbed by Armed Men

LOS BACILOS
AFP

The popular Latin pop group Los Bacilos got a rude welcome to Costa Rica yesterday, when five heavily armed and masked men robbed the band of an estimated $200,000 in sound and light equipment.

The Grammy-winning trio was scheduled to give a concert last night to promote its new hit disc "Caraluna." The concert was canceled in the afternoon, after the robbers overpowered the band's private security and made off with the equipment.

The U.S.-based group is made up of a Brazilian, a Colombian and a Puerto Rican.
-AFP

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EU Delegation to Visit

Costa Rica's efforts to cozy up to the European Union (EU) will be reciprocated next week, when a delegation of parliamentarians from Spain, Germany, France and Holland arrive here for a four-day visit.

The visiting dignitaries meet with President Abel Pacheco, Foreign Minister Roberto Tovar and Legislative Assembly president Mario Rodondo, as well as former Presidents Oscar Arias (1986-1990) and Rafael Angel Calderón Jr. (1990-1994).

The European politicians will also talk with representatives of the banana industry, and visit pineapple farms and ornamental plant farms. Costa Rica hopes to gain more access to EU markets for its traditional exports, such as bananas and coffee, as well as its non-traditional exports, such as ornamental plants.

"This is the first visit to Costa Rica by an important delegation of European deputies," said Minister Tovar. "It will, without a doubt, help us to strengthen and expand relations with the EU."

Tovar and Pacheco yesterday were El Salvador participating in the Central American summit with Spanish leader José María Aznar -- the region's initial step toward what it hopes will be an eventual free-trade agreement with the EU.

Read Friday's TT print edition for more on C.A./Spain summit.

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Former Nicaraguan President
Exposed in Forthcoming Book
By Jon Gambrell
Tico Times Staff

ALEMAN'S CLONE?: Author Byron Jerez
AFP

From inside his prison cell near the Nicaraguan capital of Managua, a former member of ex- President Arnoldo Alemán's inner circle is claiming to have written a tell-all book about the life of the embattled former President, accused of embezzling and laundering $100 million in state funds.

The book, tentatively titled "The Secrets of Power: Money, Love and Sex in the Life of Arnoldo Alemán," was penned by Byron Jerez, former tax director under the Alemán government (1997-2000) and confidant of the ex-president.

Jerez, found guilty of embezzling more than $4 million last June, currently resides in "La Modelo" prison, outside Managua.

During the first month of his incarceration, Jerez claims to have written more than 280 pages of his unauthorized Alemán biography. News of Jerez's book was announced this week in Nicaraguan newspaper Trinchera de la Noticia, which also ran the book's introduction.

"Here in prison I have dedicated myself to collecting numerous memories that I have of the stellar political ascent of Arnoldo Alemán up the stairwell of power," according to excerpts. "I know Alemán very well. I know him intimately. We were always close and I was even told I was a clone of Arnoldo Alemán."

A former mayor of Managua and figurehead of the ruling Liberal Constitutional Party, Alemán is accused of defrauding the Nicaraguan government of $100 million with the help of members of his administration (TT, Nov. 22, 2002).

Alemán and 30 of his cohorts are currently under house arrest, by mandate of current Nicaraguan President Enrique Bolaños (TT, Dec. 20, 2002).

Nicaragua's Supreme Court is currently debating whether to lift Alemán's house arrest sentence, much to the displeasure of the left-leaning opposition Sandinista National Liberation Front (FSLN).

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