Vice President Morales Says Reconciliation is Well Underway

June 14, 2007
Managua, Nicaragua

Vice President Jaime Morales assured American business leaders that the new Nicaraguan government fully respects private property rights and the benefits of a free market.

At a speech in Atlanta, Georgia, a few days ago-where some 34 countries participated in the Americas Competitiveness Forum-Morales said that the once Marxist-inspired Sandinista party "considers private business to be the most dynamic" for driving economic growth.  

Morales, a former Contra leader whose house had been confiscated by President Daniel Ortega in the 1980s, also pointed out that Nicaragua has finally started a process of "reconciliation," which will make the country more peaceful and stable for business. 

The Vice President's high-profile talk in the U.S. comes as Ortega wraps up his controversial trip to Iran, which was criticized by two U.S. Congressmen. Ron Klein (D-Fla.) and Connie Mack (R-Fla.) introduced a resolution in the House last week that denounces Iran's growing inroads into Latin America. They called the new alliance of Iran, Nicaragua and Venezuela a "triad of tyranny."

Morales said that Nicaragua is simply reflecting the realities of a globalized economy, and vowed "intense work" from his government to promote investments and economic relations with a wide variety of friendly countries. He added that the new partnerships with leftist governments will not harm the continued success of the Central American Free Trade Agreement (CAFTA), championed by the U.S.

Indeed, exports have continued to grow, with the latest figures from May showing a 14% jump from the same time last year. Morales credits both CAFTA and the Venezuelan-led ALBA trade agreement as complementary factors.

Your Latin America Insider,

Suzan Haskins
for International Living

P.S. We invite you to explore all that Nicaragua has to offer, when you join us for our Live and Prosper in Nicaragua Seminar, August 20-22. Meet the local experts who can give you the inside story on today's Nicaragua-land of voluptuous volcanoes, lovely lakes, and beautiful beachfront. Your dollar goes further in Nicaragua that just about any place else. To find out more about the seminar, e-mail Events@InternationalLiving.com.