Nicaragua Thumbs Nose at
IMF, Ups Wages
Trade unions and
representatives of the
Finance and Public
Credit Ministry
announced the increase
of minimum salaries to
15 percent Thursday.
The measures coincided
with the data given
Wednesday by Nicaraguan
President Daniel Ortega
during an activity with
his Venezuelan
counterpart Hugo Chavez.
The agreement will be
applicable to all
working sectors.
Private enterprises
proposed an increase of
only 12 percent,
although they consider
the agreement a good one
and not far from their
objectives.
Recently, spokesmen from
the International
Monetary Fund warned
that if the increase
went over 12 percent,
Nicaragua would lose the
benefits of an existing
agreement with that
international financial
entity.
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