Quick Approval Of Bank
Capitalization Bill In
Jeopardy
The delays by
legislators to ratify
the nomination of the
SUTEL board members is
affecting the
legislative session
agenda and putting in
danger the speedy
passage of the
governments plan to
inject us$117.5 million
dollars into the
economy.
The stalling by
legislators who
yesterday, in majority,
boycotted the
legislative session
forcing the cancellation
of the session, is
affecting the passage of
the Cuarto Presupuesto
Extraordinario de la
República (budget) for
2008.
The Arias government has
included in the budget a
injection of us$50
million dollars each for
the Banco Nacional (BN)
and the Banco de Costa
Rica (BCR) and us$17.5
million dollars for the
Bacno Crédito Agrícola
de Cartago (Bancredito)
- state banks - to
provide loans for small
and medium sized
manufacturers.
The fear is that the
budget plan may not be
approved before the
scheduled legislative
sessions break of
December 22 to January
2, meaning that the 2008
budget will have to wait
approval until next
year.
Earlier this week, Costa
Rican president, Oscar
Arias, criticized
legislators for their
lack of priorities,
saying that the budget
or least the bank
capitalization should
have been approved in 24
hours.
However, not all is bad.
The Liberacion Nacional
(PLN) party members -
ruling party - have
agreed no suspend the
annual break to complete
the bank capitalization
and has the support of
the Partido Acción
Ciudadana (PAC) members.
"I am telling the
manufacturing sector
that if we have to work
until December 31 to get
this bill approved, we
will", said Francisco
Molina, leader of the
PAC legislative members.
Molina blames the
Partido Unidad Social
Cristiana (PUSC) and the
Poder Ejecutivo
(government) for the
delay in the SUTEL
appointment situation
and setting off the
social crisis (delaying
of the bank
capitalization bill)
that affects the entire
country. |
