Weaknesses of local capital markets , and poor leverage of locally emerging small and medium-size firms , are two important impediments to economic growth and development . In response to the expressed desire of the Federation of Private Enterprises of Central America and Panama , FEDEPRICAP , to offer a Training Seminar for Executives of Small and Medium Enterprises ( particularly women ) on Access to Subregional Capital Markets , the UNCTAD secretariat cooperated with FEDEPRICAP and with the secretariat of the Central American Economic System ( SICA ) in the course of 1994 , in elaborating the pertinent draft project proposal .