Nicaragua seeks us$300
Million IADB Loan Due To Crisis
Managua - The Inter-American
Development Bank (IADB) will consider Nicaragua's request for a $300
million loan to help it weather the global economic crisis,
Nicaraguan President Daniel Ortega said on Thursday.
The members of the IADB board of governors from Central America and
the Dominican Republic are due to meet next Thursday in Managua to
commemorate the 50th anniversary of the bank's founding.
"We are facing the gravest economic crisis that humanity has ever
faced," said Ortega, a former Marxist guerrilla who ruled Nicaragua
in the 1980s and was voted back into power in late 2006 for his
left-wing Sandinista party.
"Developed countries, which are injecting financing into their
economies, have an obligation to inject financing into the economies
of those countries that have no responsibility for causing this
crisis."
Nicaragua's economy is being hit hard by the recession in the United
States, which buys 30 percent of Nicaragua's exports. Ortega said
the government would revise down its projections for economic growth
due to the downturn in the export sector. (Reporting by Ivan Castro;
Writing by Robert Campbell; Editing by Diane Craft)
|
|
|
|
|
|
|
