San José, Costa Rica, since 1956

IMF Delegation Arrives in Managua

A high-level mission from the International Monetary Fund (IMF) arrived in Nicaragua this week to evaluate the Ortega administration’s compliance with the economic assistance package agreed upon last year.

The mission, which will be here for two weeks, will meet with members of the government to evaluate the state of the country’s economy, and its perspectives for 2008.

According to Francisco Aguirre Sacasa, head of the National Assembly’s Economic Commission, one of the top issues of interest for the IMF will be that of Venezuelan aid, and transparency of government funding.

President Ortega has been heavily criticized for not disclosing the full amount of Venezuelan aid entering the country, and for not including it in the budget.

Nicaragua’s oil business with Venezuela is also murky. It is calculated that as much as $400 million has been generated already from sales.


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