The financial institution confirmed the release of the funds for 2011 to support projects in the power sector, transportation sector and budget support, among others.
This was announced by the representative of the organization in the country, Mirna Liévano, adding: "Nicaragua has already met all the requirements of transparency for accessing new loans from the IDB."
Panamanian President Ricardo Martinelli earmarked $19 additional million for the country's Firefighting Department.
This department had already been assigned $9.2 million to cover operational costs in 2010.
Martinelli stated that "these resources are for them to have all the equipment, instruments and training they require", reported Prensa.com. He also commented that this Department had historically been the "Government's ugly duck".
The IMF recommended Nicaragua to strengthen its governability and business climate, in order to receive external support and improve its growth perspectives.
After finishing the second and third revision of Nicaragua's economy, IMF remarked: "Nicaragua's economy has been negatively affected by the world crisis and domestic uncertainty. A reduction is expected for 2009, due to lower internal and external demand, which translates into less exports, remittances and investment. Political authorities have so far focused on supporting internal demand and protecting the financial system from global threats".
By refusing to consider what happened as a coup d'état, the U.S. avoids imposing economic sanctions on Honduras.
Even though Obama's administration maintains its position in favor of Zelaya's re installment as president, it has avoided declaring the Honduras situation as a coup d'état. This is a decision in itself, as it permits the maintenance of economic assistance programs for the impoverished country.
Daniel Ortega admitted that the European Union has frozen $43 million as well as the impact that the cancellation of the Millennium Challenge Account by the US will have.
The Nicaraguan president proposed aid from Venezuela as the only alternative to overcome the freezing of external cooperation, despite the fact that Venezuela is going through a severe economic crisis due to the drop in the price of petroleum.
They suspended $2.57 million in budget support and warned that they are expecting "free and transparent election" on Sunday.
This was the statement by Marko Lehto, budget support and governance adviser from the Finnish Embassy, according to an interview with the political weekly Confidencial that was republished in the El Nuevo daily.