Former revolutionary Daniel Ortega's win doesn't scare away investors in Nicaragua MANAGUA, Nicaragua: Banks are quiet, people are staying put, and investors are optimistic. The doom-and-gloom warnings of economic chaos and capital flight with former revolutionary Daniel Ortega's presidential win haven't materialized, the best indication yet that people believe the new Nicaraguan leader when he says he won't seize land or revert to a state-controlled economy. Millions of Nicaraguans still remember the rationing and uncontrollable inflation that accompanied Ortega's first five years in office, from 1985-90. His Soviet-backed government was fighting a U.S.-supported insurgency. Stores shelves were empty. Farmers had to ask permission to butcher their own cows. But Ortega says he's a changed man. He's revived his old socialist promises of free health care and education while assuring investors — both foreign and Nicaraguan — that he will build on President Enrique Bolanos free trade proposals and respect business rights... LINK
Good to hear he wants to take a more practical approach to developing the country by not being anti-free trade and investment. I guess Ortega has been influenced by what he's seen from other Latin American countries lately. I also think the collapse of the Soviet Union along with it's would be support has caused many old socialist to rethink things since there is no Soviet Union to back them. I think he needs to find ways to do this that aren't overly dependent on tax dollars. Various things can affect tax revenue in a country like demographic changes.
Ahh, that is sooooo nice, so his new friends in the banking industry can rest assured he will rob them legally this time ... oh and he wont be kidnapping his enemies like last time - uh hmmmm nice to see a good story for a change ! What a lovely man ! Tony blair could learn a thing or two from this relatively upright citizen of the world http://en.wikipedia.org/wiki/Daniel_Ortega
A profile of the economic left. Latin America divided into two lefts By Tyler Bridges and Pablo Bachelet LIMA, Peru - Latin America's busiest presidential election season ever ended Sunday with the re-election of Venezuela's Hugo Chavez. On the surface, the left scored a resounding series of victories, capturing nine of the 12 races. But the question is, which left? The elections of the past year, in fact, show that the region is divided into two lefts: A big-government and anti-globalization version led by Chavez that is suspicious of or even hostile to Washington. And a more market-friendly left headed by Brazil's Luiz Inacio Lula da Silva and Chile's Michelle Bachelet that decides whether to side with Washington on an issue-by-issue basis... Kansas city
