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Nicaragua’s Business Community Sees a “Coup to the Economy”

The package of fiscal and Social Security reforms imposed by the Government, hoping to raise tax collection, faces a unanimous rejection by business chambers: “It means a coup d’état to the economy, it will cause more unemployment and capital flight,” summarized the President of the Superior Council of Private Enterprise (Cosep), Jose Adan Aguerri.

The business sector contradicts the government discourse and assures that the reforms will not only decapitalize large companies but will increase the prices of basic products imposing new burdens to the lower income sectors, and also the negative effect it will have on the insured and potential pensioners.

The million-dollar question is how the business people will react faced with the certain passage of this fiscal package this week. Will they accept it under protest? Will they negotiate with the Government? Or will they resort to other forms of pressure, such as civil disobedience, to try to reverse it? “We are going to review what is approved first…any action is contemplated…nothing is ruled out,” answered Aguerri in this interview with “Esta Semana” (This Week) and Confidencial.

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