Costa Rica Coffee Guide

More Foreign Debt Pardoned

June 24, 2005

THE governments of Japan andRussia last week agreed to pardon foreigndebt owed by Nicaragua, totaling morethan $462.8 million.The Japanese government announcedin late July that it would pardonNicaragua’s debt of $118.4 million.The announcement was followed byRussia’s decision to pardon the remaining$344.4 million Nicaragua owes it. TheRussian government already agreed in1996 to reduce by 90% Nicaragua’s originaldebt of $3.4 billion, accrued mostly onmilitary purchases during the waning daysof the former Soviet Union.In January, Nicaragua was granted$4.5 billion in debt relief – approximately73% of the country’s total external debt –by the International Monetary Fund (IMF)and the World Bank.

You may be interested

Costa Rica mired in difficult internal negotiations regarding agreement with IMF
Costa Rica
897 views
Costa Rica
897 views

Costa Rica mired in difficult internal negotiations regarding agreement with IMF

Marco SIBAJA / AFP - September 30, 2020

Costa Rica is immersed in difficult internal negotiations as it seeks an agreement with the International Monetary Fund (IMF) to…

Costa Rica coronavirus updates for Tuesday, September 29
Costa Rica
5577 views
Costa Rica
5577 views

Costa Rica coronavirus updates for Tuesday, September 29

Alejandro Zúñiga - September 29, 2020

Costa Rica announced 19 new coronavirus-related deaths over the last day for a total of 880, according to official data…

Costa Rica says coronavirus measures continue in October
Costa Rica
21086 views
Costa Rica
21086 views

Costa Rica says coronavirus measures continue in October

Alejandro Zúñiga - September 29, 2020

President Carlos Alvarado and the National Emergency Commission (CNE) on Tuesday  announced Costa Rica's coronavirus measures will continue in October. The…