Will There Be Venezuelan Oil for Nicaragua?

The IMF has warned of the risk posed to the economy by the uncertainty of the fuel supply agreement with Venezuela.

Monday, December 16, 2013

During their visit to Nicaragua in early December, a team from the International Monetary Fund (IMF) gave a series of warnings over the energy agreement which the country has with Venezuela.

However, the IMF praised the country for its fiscal and monetary discipline and reforms which "have strengthened confidence and boosted economic growth," they explained.

The IMF welcomed the fact that government has disseminate its international agreements and recommended that the agreement with Venezuela also be published.

More on this topic

Central America: Fuel Prices up to December 3rd

December 2018

Price per gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.55, Honduras $3.48, El Salvador $2.97, Guatemala $2.92 and Panama $2.77.

From the Ministry of Economy of El Salvador report:

During the last two months, the oil and its derivatives production has reached higher figures than expected, this is because the two largest producers, the United States and Saudi Arabia, have recorded figures never seen before.

Salvadoran Business Concerned About Petrocaribe

July 2014

They are demanding from the government more transparency in the management of fuel purchases and more information on how the market will be organized with the participation of the Venezuelan entity.

The Chamber of Commerce and Industry of El Salvador has expressed concern about the interference that Petrocaribe and the Venezuelan government could have on El Salvador and has asked the government for greater transparency about how fuel imports will be handled once the agreement enters into force.

More State Interference in Fuels in El Salvador

June 2014

Gasoline distributors are concerned about Petrocaribe's recommendation that the Salvadoran government be the sole manager of oil imports.

An urgent appeal to the Government for it to call together companies from the sector and clarify the implications of El Salvador's entry into Petrocaribe, has been the reaction of the distributors of domestic fuels, in light of statements by representatives of Alba Petróleos suggesting that the government should establish an entity to manage the purchase and import of hydrocarbon derivatives purchases.

Honduras Should Seek Alternatives to Petrocaribe

December 2013

Since its return to Petrocaribe in May this year Honduras has not received a single shipment of oil from the South American country.

The President-elect Juan Orlando Hernandez will have the task of defining whether the country remains within Petrocaribe or looks for alternatives to imported hydrocarbons.

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