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Nicaraguan Social Security Institute
The Nicaraguan Social Security Institute (Instituto Nicaragüense de Seguridad Social, or INSS) oversees the Nicaraguan social security system. It was legally established in 1956 and first implemented in 1957. The social security system provided pension, disability and healthcare benefits to members. The system is funded by employer and employee contributions, amounting to about 5% of GDP in 2016. As of 2017 only about 32% of the work force were members largely due to high levels of informal employment. Pensions become payable at 60 years of age, or 55 for miners and teachers, subject to 750 weeks (about 15 years) of contributions. In 2006, President Enrique Bolaños released an actuarial study conducted by an Inter-institutional Technical Commission (Comisión Técnica Interinstitucional, or CTI) that anticipated coming deficits in spite of the program's solvency at the time (in 2007, income exceeded expenses). Subsequent studies by the INSS also suggested the program would face d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. most pension systems), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through free or subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enrique Bolaños
Enrique José Bolaños Geyer (; 13 May 1928 – 14 June 2021) was a Nicaraguan politician who served as President of Nicaragua from 10 January 2002 to 10 January 2007. From 1997 to 2002, Bolaños served as vice president under Arnoldo Alemán. On 4 November 2001 he defeated Daniel Ortega of the Sandinista National Liberation Front party in the presidential election and was sworn in as president on 10 January 2002. He was a member of the Constitutional Liberal Party (PLC) until he broke with it to help form the Alliance for the Republic (APRE). At the beginning of his term as president, he led an anti-corruption campaign that ultimately convicted his predecessor and head of the PLC, Arnoldo Alemán to 20 years in prison. Early life and career Bolaños was born in Masaya, Nicaragua, on 13 May 1928. He received his primary and secondary education in Nicaragua at the Jesuit Colegio Centro América, and graduated from Saint Louis University in the United States with a degree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daniel Ortega
José Daniel Ortega Saavedra (; born 11 November 1945) is a Nicaraguans, Nicaraguan revolutionary and politician serving as President of Nicaragua since 2007. Previously he was leader of Nicaragua from 1979 to 1990, first as coordinator of the Junta of National Reconstruction (1979–1985) and then as President of Nicaragua (1985–1990). In the 1984 Nicaraguan general election, Ortega won Nicaragua's presidential election as the FSLN's candidate. A Marxist–Leninist, Ortega pursued a program of nationalization, land reform, wealth redistribution, and the Nicaraguan Literacy Campaign during his first period in office. A leader in the Sandinista National Liberation Front ( es, Frente Sandinista de Liberación Nacional, FSLN), he implemented policies to achieve leftist reforms across Nicaragua. In later years, Ortega's left-wing radical politics cooled significantly, leading him to pursue pro-business policies and even rapprochement with the Catholic Church. This was followed i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is widely used as a basis to co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payroll Taxes
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is unaffected by this distinction, and falls largely or entirely on workers in the form of lower wages. Because payroll taxes fall exclusively on wages and not on returns to financial or physical investments, payroll taxes may contribute to underinvestment in human capital such as higher education. National payroll tax systems Australia The Australian federal government (ATO) requires withholding tax on employment income (payroll taxes of the first type), under a system known as pay-as-you-go (PAYG). The individual states impose payroll taxes of the second type. Bermuda In Bermuda, payroll tax accounts for over a third of the annual national bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2014–2018 Nicaraguan Protests
The 2014–2018 Nicaraguan protests were a series of protests against President of Nicaragua Daniel Ortega and actions performed by his government, the dismantling of the opposition, and violence against peaceful protesters. The protests began in 2014, when the construction of the Nicaragua Canal was about to begin, and several hundred protesters blocked roads and clashed with police during the groundbreaking of the canal. Tens of thousands of Nicaraguans began to protest against President Ortega for what they believe to be a corrupt electoral system. The protests were renewed in April 2018 following the Ortega administration's decree of the Nicaraguan Social Security Institute's social security reform increasing taxes and decreasing benefits. Police and the paramilitary groups attacked and killed unarmed protesters, which made people to stand-up. After five days of deadly unrest, Ortega announced the cancellation of the reforms. Since then, Ortega faced the largest protests in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies In North America
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security In Nicaragua
Social organisms, including human(s), live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary or not. Etymology The word "social" derives from the Latin word ''socii'' ("allies"). It is particularly derived from the Italian ''Socii'' states, historical allies of the Roman Republic (although they rebelled against Rome in the Social War of 91–87 BC). Social theorists In the view of Karl MarxMorrison, Ken. ''Marx, Durkheim, Weber. Formations of modern social thought'', human beings are intrinsically, necessarily and by definition social beings who, beyond being "gregarious creatures", cannot survive and meet their needs other than through social co-operation and association. Their social characteristics are therefore to a large extent an objectively given fact, stamped on them from birth and affirmed by socialization processes; and, according to Marx, in producing and reproducin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Established In 1956
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
