Nicaragua and Spain hold more talks on debt
The governments of Nicaragua and Spain have signed a new Program of Debt Conversion which will allow Nicaragua to spend 58.2 million dollars on social development projects.
Thursday, June 12, 2008
This is the second debt conversion program signed between the two countries. It's part of a process of debt forgiveness to Nicaragua. The first was signed in May 2007 and was for 39 million dollars.
The Solis administration has restructured its debts in order to postpone for three years the payment of $842 million for domestic debt titles.
The manufacturer of flexible packaging and films which has a presence in several countries in the region and in Colombia, has filed for an agreement of suspension of payments in Costa Rica in order to avoid going bankrupt.
A proposal has been made to create a program within the Banking Development System to allow tourism enterprises to readjust their debts with banks.
With $300 million in funding from the BCIE payments will be made on domestic debt which is currently concentrated in the welfare institutes which will be able to invest in productive projects.
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