Eurasia Group senior analyst Risa Grais-Targow cited growing challenges for President Luis Guillermo SolÃs’ ruling Citizen Action Party and a lack of perceived political will to rein in the country’s fiscal deficit among the drivers behind Friday's downgrade.
CARACAS, Venezuela — Venezuela had its credit rating cut by Moody's Investors Service to the world's worst among countries not in default, as falling oil prices strain a government already confronting food shortages and 64 percent inflation.
Publicly sponsored news outlets, government officials, and even the country's president, Nicolás Maduro, have all responded to McDonald's unthinkable french fry shortage, which spans all 100 outlets in the country, by publicly criticizing the chain, and its french fries.
President Barack Obama announced major changes in the United States’ 53-year embargo on communist Cuba Wednesday, but don’t pack your bags just yet. Tourism was not among the travel exemptions listed by the White House.
Leaders of Costa Rica’s food industry on Tuesday reported that their production has increased by only 1.79 percent this year, a low figure that has prevented the sector from growing or creating new jobs. It also increases uncertainty for next year, they said.
The optimism that followed the inauguration of President Luis Guillermo SolÃs last May has since dissipated among the country’s business sector, according to the latest study by consulting firm Deloitte, released Monday.
WASHINGTON, D. C. – A strong U.S. economy and lower world oil prices will only mean good news for Central America next year, predicts the World Bank official directly responsible for the six-country region.
Costa Rica’s top diplomat in Washington and the World Bank’s top regional official agree on just about everything: President Luis Guillermo SolÃs – in office now for seven months – must cut spending, boost tax collection and cut the nation’s fiscal deficit-to-GDP ratio, which appears unsustainable in the long run.
Last September, Hanes announced it would close nine plants in five countries and reduce its global workforce by 12 percent as part of a major restructuring effort. The company eliminated 8,100 jobs in the United States, El Salvador, Honduras and Costa Rica, and moved 2,000 jobs to Asia.
