‘No Pago’ Group Asks Ortega to Buy Their Debt

August 20, 2010

MANAGUA Hundreds of agricultural producers and small business owners from northern Nicaragua marched on the capital Aug. 12 to demand that the government buy their multi-million dollar debt with microfinance institutions.

The debtor group, known as the No Payment Movement, marched to President Daniel Ortega s home (which also serves as Sandinista party headquarters and the casa president s offices) to ask the president to buy their debt, which is estimated to be between $16 -25 million. The debtor group, which numbers more than 13,000 individuals, promised to repay the debt interest free over the next 10 years.

We want the government to help us resolve a great socio-economic problem of debt caused by high interest rates charged by financial institutions, which are hard to pay in this economy, said protest leader Omar Vilchez, an ex-Sandinista mayor from Jalapa.

The daily La Prensa reported that the debtor group has pledged to support Ortega s controversial reelection bid next year if he agrees to purchase their debt.

At press time, Ortega had not commented on the protest or responded to the group s demands.

Nica Times

You may be interested

Costa Rica’s snakebite research pioneers save lives worldwide
Changemakers
52 views
Changemakers
52 views

Costa Rica’s snakebite research pioneers save lives worldwide

Mitzi 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 Bushby
sports
185 views
sports
185 views

Adaptive surfing, part II: The story of Dean Bushby

Ellen 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…

Costa Rica launches Pride Connection network
Human rights
239 views
Human rights
239 views

Costa Rica launches Pride Connection network

Elizabeth Lang - May 22, 2018

As Costa Rica continues to grapple with the disagreements about marriage equality and gender identity that dominated the second round…