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 Spanish Embassy said that Spain has forgiven more than 600 million euros (about 900 million dollars) of Nicaragua's debt over the past 10 years.

More on this topic

$120 Million Loan for Home Appliance Chain

May 2017

Funds obtained through a syndicated loan with Bladex Bank will be used by the Monge Group to refinance existing debt.

The company, dedicated to retail trade and with a presence in Costa Rica, Guatemala, Honduras, Nicaragua, El Salvador, and Peru, through 518 stores, has obtained a syndicated loan to improve the maturity profile of its debts.

Costa Rica: More Long-Term Debt

July 2016

The Solis administration has restructured its debts in order to postpone for three years the payment of $842 million for domestic debt titles.

Although the government of Luis Guillermo Solís calls it "the best period in debt swaps in the history of the Ministry of Finance", the decision to redeem debt securities maturing between September 2016 and December 2017 for securities with maturities of more than three years, helps improve the maturity profile, but in reality it is "kicking down the line" a serious cash flow problem that needs to be resolved urgently.

Yanber Requests Suspension of Payments Agreement

June 2015

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.

An article in Nacion.com reports that the company spokesmen said that the intention "...

Honduras: Pension Funds Invest in Infrastructure

July 2014

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.

Welfare institutes of the public pensions administrators are creditors of 64% of domestic debt issued by the State and as the average term to maturity of this debt is 2.7 years, the government will seek to refinance at longer terms and with more favorable interest rates.

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