Does the Nicaraguan President have a leg to stand on in his arguement? what do you make of this?
MANAGUA -- To offset the recent wave of factory closings and work suspensions at U.S. textile and manufacturing plants in Central America, Nicaraguan President Daniel Ortega is asking the U.S. government for an economic bailout plan for Central America.
Speaking at Wednesday's extraordinary presidential meeting of the Central American Integration System, Ortega went against the current of other leaders in attendance by criticizing the U.S.-Central American Free Trade Agreement-Dominican Republic (CAFTA-DR) as being fickle and unjust. Despite the promises of CAFTA-DR, Ortega said, ``What's happening now is that they are closing U.S. investment linked to the trade agreement in Central American countries, especially in Honduras and Nicaragua.''
The closing of free-trade zones has already led to 20,000 lost jobs in Honduras, and independent economic analysts in Nicaragua predicts an additional 30,000 - 50,000 jobs will be lost in Nicaragua this year, on top of the thousands already lost at the end of 2008.
Ortega noted that U.S. textile giant Cone Denim, which just finished its $100 million investment in Nicaragua -- the single largest investment in Central America under CAFTA-DR -- has already suspended operations indefinitely in Nicaragua, potentially affecting thousands more workers.
''At first they talked about a 15-day (work suspension) and now they are talking about one year,'' said Ortega, who helped inaugurate the new plant enthusiastically last year.
Ortega said that the solution for Central America needs to come in the form of a U.S. bailout plan, similar to the ones being given to U.S. banking, financial services and other industrial sectors.
''We are part of the crisis and we are part of (CAFTA-DR), so it is their obligation to give resources to the region,'' Ortega said.
- Anonymous1 decade agoFavorite Answer
Maybe it's time Daniel Ortega put the arm on his socialist buddy and co-conspirator Hugo Chavez. Hugo's got deep pockets and loves to help his revolutionary buddies, so it makes sense to let Venezuela put together a stimulus, and at the same time recruit more socialists. Look what it did for the Cubans !
- GunnyCLv 61 decade ago
Spit in our face but they do want our cash. I see no reason for us not to help our friends when we can but helping those who are not our friends is a negative and he is not a friend of this country.
- 1 decade ago
I think we should all sh*t in a shoebox and mail it to this guy.