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JANUARY  2 0 0 9Issue 24
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WANT TO SIDESTEP THE FINANCIAL CRISIS? Montecristo in Nicaragua invites you to join a forward thinking community of investors who are quietly expanding their horizons beyond the US. You can't have missed the headlines over the past few weeks "Citigroup to slash 52,000 jobs." "Recession is going to be long and painful." "US shares fall to five year low." "US mortgage meltdown." Things are turbulent out there, and the question on everyone's lips is "How will this affect me?" Well, one thing is clear, change is coming… The bickering over what the government should be doing to bolster economic performance - jump in and take action to save the troubled institutions, or step aside and let the market sort it out - will continue for a while. We're more interested in the private debate going on inside people's heads. "How can I maintain or even improve my standard of living?" "Where can I put my money where I get a good return?" "Where can I start a business that will keep my earnings up?" "How can I live the lifestyle I was planning in my retirement?" "Do I have to give up on my dream of an ocean-side retirement home?" Are you on the offense or the defense? A few weeks ago, we accompanied a couple from New England on a visit to Montecristo. Their retirement assets are shrinking and they can no longer afford to relocate to Florida as planned. But they don't want to give up on their dream of an ocean-side, golf-front retirement home. So they are out looking for an alternative, and thinking about repositioning their assets and expanding their horizons beyond US shores. We showed them a range of beach front, ocean view and golf opportunities at prices far below what you can find elsewhere in Central America, in a country where you can enjoy a cost of living up to 70% less than in the U.S.  The home is set against a backdrop of rolling hills that glow at sunset and framed by dramatic rocky outcrops. They loved the setting - easily the same caliber of sand and coast as you can get farther north in California, but for a fraction of the cost. So how much is that house? At $209,500 the couple from New England didn't have to give up on their dream of an ocean side retirement home - with championship golf, equestrian center, spa and gym facilities, medical center, clubhouses and a surf break within walking distance. They will soon be living in one of the most beautiful spots on the planet. But they're not going to be worried about stretching their retirement dollars. IMF Purchasing Power Parity figures show that your dollar goes further in Nicaragua than in any Central American country. They'll be able keep their monthly expense to under $950. This includes food, private help, transportation, utilities, Cable TV, broadband Internet and entertainment.  Our mantra here is "no debt." Just next door to the couple from New England’s house, and still part of Montecristo, is a neighborhood called "Cumbres" - already 90% sold out - with million dollar homes currently under construction.  We're so excited about these new house models, the work Mike is doing on the golf course and our new releases. This championship-caliber course - designed by award-winning architect Mike Young - will stretch for 7,060-yards past river and ocean, climbing up into the mountains for breathtaking ocean views along the back nine. With over 300 feet of elevation change, this par-71 will be as challenging as it is beautiful. Young's designs have garnered much acclaim in the sport. His courses have been nominated as some of the "Best New Courses in America" by Golf Digest and the Audubon Signature Sanctuary Program. He's designed more than 40 courses in 5 different countries, yet calls the Montecristo site "one of the best I've ever had to work with.” To introduce the new models and the golf course we are planning a special event on 17th and 18th January 2009 in the company of Mike Young. A special two-day event with an impressive cast of visionaries… Come and see for yourself …..We've put together a full itinerary for this special two day event. Just book your ticket to arrive in Managua, the day before - on the 16th - and we'll make the arrangements from there. We'll be pleased to cover your meal expenses over the course of the two days. What's more, if you do decide to purchase, we'd be happy refund the cost of your flight and hotel. Contact Lori Estrada for the full event itinerary and further details.  Caribbean nations are urging U.S. President Elect Barack Obama to end the decade’s long American trade embargo on Cuba. Mr. Obama has pledged to ease restrictions on Cuban-Americans traveling to Cuba and sending money there, but has said he wants to maintain the embargo to press for positive changes in the Communist-run country. “The Caribbean community hopes that the transformational change that is under way in the United States finally relegates that measure to history,” said Prime Minister W. Baldwin Spencer of Antigua and Barbuda, chairman of the CARICOM group of Caribbean nations, during a recent was meeting in Santiago de Cuba. | ||
 CARIBBEAN NATIONS HIT HARD BY U.S. RECESSION Caribbean nations are trying to blunt the impact of the U.S. recession on their small economies by boosting tourism marketing, lining up credit overseas and pooling their limited resources. But the islands already are seeing a slump in foreign investment, slower economic growth and dropping tourist arrivals, with 2009 likely to bring even tougher times, participants said at the annual Miami Conference on the Caribbean this week. That's bad news for South Florida exporters, who depend on the Caribbean as a steady market, and for millions of U.S. residents with Caribbean roots, who fear family and friends abroad could lose jobs and see crime spike. The fallout varies widely among islands in the world's most tourism-dependent region. Hardest hit are those nations most bound to the U.S. economy, such as the Bahamas, which depends largely on U.S. tourists, or Jamaica, a debt-strapped nation that needs lots of dollars to pay bills. Nations like Barbados, with little debt and many European visitors, face fewer difficulties, panelists said. Oil importers, such as the Dominican Republic, enjoy some relief from falling energy prices. But oil exporters, such as Trinidad & Tobago, are seeing revenues slide and cutting spending, speakers said. In Jamaica, economic growth has been virtually wiped out already, with growth estimates reduced from 3 percent to 0.5 percent for the fiscal year ending March 31st. That's despite new hotels, more visitors and increased tourism marketing. Caribbean leaders said it's tough to blunt the fallout when no one knows how long the U.S. crisis will be or how deep.  CARIBBEAN MINISTERS APPROVE FINAL DRAFT OF REGIONAL LOCAL GOVERNMENT POLICY Caribbean Local Government Ministers have approved the final draft of the Regional Policy and Co-operation Framework on Local Governance, which will serve as a guide towards enhancing Local Government in the region. The sanctioning of the policy came after two days of meetings in Montego Bay, Jamaica, on December 1st and 2nd. The policy, which will serve as a reference tool for countries that are developing, reforming, introducing or reintroducing Local Government, will be submitted to the CARICOM Heads of Government for consideration at their next summit. Jamaican Prime Minister Bruce Golding, in a statement read by Minister of State in the Office of the Prime Minister, Robert Montague, at the opening ceremony of the 2nd Regional Consultation on December 1st, praised the move to adopt the policy, which he said will help to transform Caribbean societies. He noted that the world has begun to recognize "the tremendous contribution which strong and effective local governance could make in the quest to achieve good governance and sustainable development and in enabling people to take ownership of the systems and structures of governance." "This is particularly relevant to the Caribbean as we strive to transform our societies, safeguard our environment, improve the quality of life of our people, as well as meeting the challenges posed by globalization and the impact of external threats to our small, dependent, yet vulnerable economies and societies," the Prime Minister said. In the meantime, he lauded the Governments of the region and the international partners, for supporting initiatives aimed at advancing local governance and democracy across the Caribbean over the years He noted that these initiatives, which are being sponsored in large part by the Canadian International Development Agency (CIDA), under the Local Governance in the Caribbean project, were aimed at transforming Governments and improving the quality of life of citizens. | ||
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DOMINICA GOVERNMENT SECURES US$9.16 MILLION FROM CDB FOR SEA DEFENSE AND ROAD WORK The government of Dominica has secured a soft loan of US$9.16 million from the Barbados-based Caribbean Development Bank to assist in financing the rehabilitation of sea defenses and road works in the village of Point Michel damaged by the passage of Hurricane Omar. The Board of Directors of the Caribbean Development Bank approved the amount at their meeting in Barbados last week. The project is designed to assist in the speedy rehabilitation of Point Michel’s sea defenses and road infrastructure and the restoration of its productive capacity. This includes the restoration of road links which facilitate the movement of people and goods to the villages along the south-western coast of Dominica. Hurricane Omar also caused extensive damage to Dominica’s fishing industry. Boat engines, fishing equipment and boat houses in 13 communities along the west coast were also damaged and more than 500 fishermen were affected. CARIBBEAN LEADERS URGED TO WORK TOGETHER TO ADDRESS GLOBAL FINANCIAL CRISIS Minister without Portfolio in Jamaica's Ministry of Finance and the Public Service, Senator Don Wehby, has urged the leaders of the Caribbean to work together to take steps to sustain their economies, in the face of the global economic turmoil. Wehby, who was addressing the plenary session of the 32nd annual Caribbean and Central America Conference held recently in downtown Miami, said that even as individual countries work to implement mitigation measures, by working together, greater success can be achieved. Discussing the impact of the crisis on tourism, Wehby said that the arrivals figures have been encouraging, showing an increase over last year. He informed that a five per cent increase is projected for the winter months with added flights from Europe and Canada. He said, further, that an "aggressive advertising campaign is being undertaken" to sustain existing markets and tap into new ones. The three-day Miami conference primarily focused on the global financial crisis, and the ensuing economic downturn on Caribbean and Latin American economies. The event brought together leaders from the region, along with representatives from the government and private sectors, and civil society to discuss the issue and other subject matters, including agribusiness, energy, telecommunications, transportation and logistics, tourism, disaster preparedness, and maritime security. PANAMA BREEZES Our company, Panama Breezes, specializes in just Panama, giving us a special insight into this beautiful country and nobody knows it better than us! Join us on our journey as we explore deserted islands, experience indigenous cultures, soak up the sun on both Pacific and Atlantic coast beaches or hike through virgin forests in the mountains and national parks all while being amazed by the abundant wildlife.  | ||
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| July 2008 | ||
| Hot Off The Press July 2008 | ||
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| June 2008 | ||
| Hot Off The Press June 2008 | ||
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| Hot Off The Press May 2008 | ||
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