Costa Rica Coffee Guide

Iran erases $164 million of Nicaraguan debt

May 30, 2012

MANAGUA – Iran remitted $164 million of Nicaraguan debt in a gesture to strengthen economic relations with the government of Daniel Ortega, Iranian Vice President Ali Saeidlo said during a visit to Managua this week.

“I wanted to take this trip to announce this news to you personally,” Saeidlo said on Tuesday. “We are ready to forgive Nicaragua’s debt.”

The debt forgiveness was one of the agreements that President Mahmoud Ahmadinejad promised Ortega after the Nicaraguan leader’s return to power in 2007. Ortega thanked Iran and said his government is “also ready” to boost trade and investment between the two nations.

Nicaragua’s $58 million debt was acquired during Ortega’s first term in the 1980s and grew to $164 million with interest.

Saeidlo arrived in Managua on Monday night from Cuba and plans to continue his tour of other allied countries in the region, including Ecuador.

You may be interested

Costa Rica coronavirus updates for Tuesday, September 29
Costa Rica
5573 views
Costa Rica
5573 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
21083 views
Costa Rica
21083 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…

These are the requirements to enter Costa Rica as a tourist
Costa Rica
2334 views
Costa Rica
2334 views

These are the requirements to enter Costa Rica as a tourist

Alejandro Zúñiga - September 29, 2020

Costa Rica is currently welcoming tourists from select countries and U.S. states. Due to the coronavirus pandemic, Costa Rica has…