Gov’t to Start Talks with IMF
MANAGUA – The government of President Daniel Ortega will start negotiations with the International Monetary Fund (IMF) in the coming weeks, according to an inside government source.
Former Sandinista congressman Bayardo Arce, Ortega’s economic advisor and trusted confidant, said the talks with the IMF had been postponed until February to await the outcome of efforts to get the Inter-American Development Bank (BID) to forgive part of Nicaragua’s foreign debt.
Those efforts paid off Jan. 22, when the BID agreed to pardon an additional $984 million of Nicaragua’s debt. The BID is expected to make that announcement official next month.
The IMF’s representative to Nicaragua, Humberto Arbulú, said he had not been informed about Ortega’s decision to postpone talks for a month, but added that the talks would begin when the Nicaraguan President initiated contact with the international lending organization.
Ortega has said he will renegotiate an economic agreement package with the IMF despite being urged not to by his close ally and revolutionary brethren, Venezuelan President Hugo Chávez.
You may be interested
Costa Rica dismantles international drug trafficking ringAFP - May 24, 2018
Costa Rican authorities dismantled an international cocaine trafficking ring that used fishing boats on the country's southern Pacific coast. The…
Costa Rica’s snakebite research pioneers save lives worldwideMitzi Stark - May 23, 2018
The Clodomiro Picado Institute is spread along the main road of Dulce Nombre de Coronado, northeast of San José. Its…
Adaptive surfing, part II: The story of Dean BushbyEllen Zoe Golden - May 22, 2018
A three-part look at adaptive surfing in Costa Rica. Read Part I here to learn how a Central Pacific coach is…