U.S. Cancels $100 Million of Nicaraguan Debt

August 20, 2004

MANAGUA (AFP) – The UnitedStates forgave Nicaragua’s debt of $100million to the nation on Tuesday as partof the Highly Indebted Poor CountriesInitiative (HIPC), according to officialsources.The agreement that alleviated thedebt was signed in Nicaragua’s CasaPresidencial by the president of theCentral Bank of Nicaragua (BCN),Mario Alonso, and U.S. AmbassadorBarbara Moore.Moore explained that the cancellationcomes as part of the United States’responsibilities as a member of theParis Club, an informal group of creditorswhose role is to find solutions topayment challenges faced by nations indebt.Since Nicaragua joined HIPC inJanuary of this year, approximately $4.5billion of the nation’s $6.2 billion debthas been alleviated.Earlier this month, Russia agreed topardon the $344.4 million Nicaraguaowed it, a decision that followed Japan’sannoun-cement that it would pardonNicaragua’s $118.4 million debt (TT,Aug. 6).

Facebook Comments

You may be interested

How to file a criminal complaint, or ‘denuncia,’ in Costa Rica
Costa Rica
627 views
Costa Rica
627 views

How to file a criminal complaint, or ‘denuncia,’ in Costa Rica

Caeli Chesin - March 22, 2019

In Costa Rica, a criminal complaint can report workplace harassment, a home invasion or sexual assault, among other crimes related…

Off the eaten path: Aroi Thai
Dining & Nightlife
765 views
Dining & Nightlife
765 views

Off the eaten path: Aroi Thai

William Ayre - March 22, 2019

Aroi Thai was the first Thai restaurant in Costa Rica. They started as a delivery-only service before opening a restaurant…

Costa Rica confirms measles cases in children of United States citizens
Costa Rica
3393 views
Costa Rica
3393 views

Costa Rica confirms measles cases in children of United States citizens

Alejandro Zúñiga - March 21, 2019

Costa Rica is enacting a National Surveillance Protocol after confirming two cases of measles, the Health Ministry announced Thursday afternoon.…