Well, it looks like Nicaragua will join Panama in an attempt to reign in price increases of the basic food items.  It does not work here and will not work there either.

The private sector in Nicaragua is opposed to the bill which intends to regulate the prices of 8 of the 53 products in the basic food basket.

The bill introduced in the Assembly intends to implement measures similar to those applied in Panama since July by the Varela administration, which have distorted the production and marketing of the products it covers, according to entrepreneurs from that country.

The president of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri told Nicaraguahoy that “… In an economy such as Nicaragua’s, which is a price taker not price-maker, this is simply a populist effort which does not have support from any private enterprise and has no chance of being effective in the market.”

Furthermore, “… He compared the initiative, presented this week to the Assembly, with the effects of supporting the campaign known as the “No Pago” (Don’t Pay) movement and accused ‘politicians of doing harm’ to the economy. ”

Source: nicaraguahoy.info