Nicaragua Revokes Legislation that Increased Payroll Tax, Cut Pension Benefits
Nicaragua Revokes Legislation that Increased Payroll Tax, Cut Pension Benefits
By
José de Córdoba
AS/COA's Vice President Eric Farnsworth explains why despite President Ortega canceling the controversial measures to overhaul the country's social security system, protests and rioting rage onward in Nicaragua.
Nicaraguan President Daniel Ortega canceled an unpopular package of measures to overhaul the country’s social security system, seeking to contain rising unrest after five days of violent street protests that left as many as 26 people dead in this poor Central American nation.
In a televised speech Sunday, Mr. Ortega said that he revoked legislation to increase payroll taxes and cut pension benefits to shore up the country’s threadbare social security fund.
