No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveIMF Gives O.K., Asks for Clarity on Venezuelan Aid

IMF Gives O.K., Asks for Clarity on Venezuelan Aid

The Internaional Monetary Fund (IMF) on Nov. 19 approved Nicaragua’s fourth and fifth program revisions, but told the Sandinista government they must open their books on Venezuelan aid.

Central Bank President Antenor Rosales told the daily La Prensa that Nicaragua will have to present the IMF with a detailed report on Venezuelan aid by next March to account for the $1.44 billion the Sandinista government has received from Venezuela since 2007. Of that amount, only $436 million is stipulated clearly as donations.

The entire $351 million that Venezuela has given Nicaragua this year has been in the form of loans, according to the Central Bank. And it’s still unclear whether the remaining $650 in Venezuelan “cooperation” was donations or loans that Venezuela will try to collect payment on at some point.

Under Nicaraguan law, the National Assembly has to approve all new loans. Opposition lawmakers, therefore, argue that Nicaragua cannot be held legally responsible for any new debt to Venezuela under the secretive cooperation agreement between Presidents Daniel Ortega and Hugo Chávez.

Following the final revisions by the IMF, Nicaragua is now eligible to remain in the program for another year and receive an additional $20 million in IMF funding.

Trending Now

Costa Rica’s Piangua Mollusk Threatened by Pineapple Farm Runoff

Costa Rica’s Térraba-Sierpe National Wetland, a 33,000-hectare haven of mangroves and rivers, is under siege from an unlikely source: pineapple farms. A study by...

El Salvador Slams Paris Fashion Show Inspired by Cecot Mega-Prison Inmates

The president of El Salvador, Nayib Bukele, joked on Saturday that he could send inmates from his mega-prison to France, after they were represented...

Honduras Seizes $2 Million, Gold-Plated Pistols in Drug Raid

Honduran authorities struck a blow against drug cartels, seizing over $2 million in cash, war rifles, and flashy gold-plated pistols in Copán, a northwest...

Hondurans March to Mark 2009 Coup as Election Battle Heats Up

Thousands of government supporters marched Saturday in the capital of Honduras to commemorate the anniversary of the 2009 coup that ousted then-leftist President Manuel...

Costa Rica Court Moves to Lift President Chaves’ Immunity

Costa Rica’s Supreme Court of Justice on Tuesday asked Congress — for the first time in the history of this country with a well-established...

Costa Rica Maintains Economic Stability Amid Global Tensions

Costa Rica is holding steady economically despite global tensions sparked by conflicts involving Israel, the United States, and Iran, according to Federico Quesada Chaves,...
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica