Denmark Withdraws Aid To Nicaragua

Denmark's International Development Agency announced it will cease aid to Latin America, with Nicaragua and Bolivia the most affected.

Friday, March 19, 2010

In 2008, Nicaragua received $36 million from this organization.

"The Danish government had previously signaled its intention of changing its cooperation strategy, in order to focus on Africa", reported Laprensa.com.ni. "This announcement has been criticized by the opposition and experts, who remark that basic social systems such as health and education are key to foster growth and development".

More on this topic

CABEI To Begin Disbursing Money to Honduras

March 2010

The Central American Bank for Economic Integration announced it will start disbursing money to Honduras in the upcoming days.

The entity explained it had decided to do so in its first directive meeting, in early 2010.

“However, in order to disburse money to the Honduran public and private sector, several items had to be in place. For example, the country had to be up to date with its obligations to the bank”.

IMF Mission Will Evaluate Honduran Economy

March 2010

From March 15 to 25, the International Monetary Fund (IMF), will evaluate the country’s economy in the wake of 2009’s political crisis.

After this assessment, the IMF may reach an agreement with the Government for a loan or some sort of cooperation, explained María Elena Mondragón, president of the Central Bank.

U.S Will Resume Aid To Honduras

February 2010

The announcement was made by Hugo Llorens, U.S. ambassador in Honduras.

’It is not fair to isolate Honduras. In Washington, we are beginning the process to unfreeze economic aid for the country’, said Llorens, at a press conference with President Porfirio Lobo.

Economic assistance to Honduras was suspended seven months ago, as a way of forcing the de facto government to reinstate President Manuel Zelaya.

Denmark Reduces Nicaraguan Cooperation

September 2009

Denmark's aid to the country will be reduced from $34.6 million in 2009 to $26 million in 2010.

Aid will be modified in favor of 'the private sector and the civil society, including NGO and independent media", at the expense of the State, said Ulla Toernaes, Danish Cooperation Minister.

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