Arias Calls For
Prayer Heading Into 2009
Costa Rican president,
Oscar Arias, warned that
1009 will be a "very
difficult year" and that
poverty and unemployment
will increase.
"For a prosperous new
year, we have to pray a
lot", said Arias while
attending an official
function at the
Herradura hotel.
Arias added that with
the rise in
unemployment, there
could be a rise in
crime. "I cannot paint
for Ticos a rosy
picture, when it is
grey", added the prez.
Arias blames the bleak
future to the world
financial crisis and
asked legislators for a
quick approval to the "ley
de capitalización" for
state banks that would
see an infusion of
us$117 million dollars
for small to medium
sized manufacturers.
The ley de
capitalización would
allow both the Banco
Nacional and the Banco
de Costa Rica to extend
and additional us$50
million in credit, while
the Bancredito would be
allowed us$17 million.
"This is a law that
should have been
approved in 24 hours.
How is it that we do not
have a sense of urgency
when we are falling over
the edge", said Arias.
The president's message
to legislators was
emphasized that the
exporting and real
estate industy are
paralyzed due to lack of
sufficient credit.
"If Daniel Ortega
(Nicaragua's president)
does not get his act
together, there will be
more unemployment in
Nicaragua and more
Nicaraguans will headed
here. Before we could
give them (the
Nicarguans) work in
construction, now all
the constructions
companies have put their
brakes on", said Arias.
For his part, Ottón
Solís, leader of the
PAC, has come strongly
in criticizing the
government and its
inaction in the face of
a the crisis, for
spending in excess and
maintaining a negative
interest rate policy
that does not stimulate
saving.
Solís has said publicly
that his party supports
the ley de
capitalización, but
described Arias' message
as "fatalist".
President Arias compared
the current economic
situation as the worst
since 1929. |
