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Nicaraguan Government Urged to
Reduce Public Debt
Nicaraguan economist and
presidential candidate Edmundo
Jarquin called on authorities to
reduce the domestic debt, as it
is a drag on the country´s
economy.
Speaking at a business seminar
in Managua, the former official
of the Inter-American
Development Bank for ten years,
and current presidential
candidate of the Sandinista
Renovador Movement (MRS), warned
that domestic costs of
transactions are among the
highest in Central America.
The trend affects the expansion
of Nicaraguan economy and
therefore the country´s
development, he stressed.
According to Jarquin, the
nation´s trade with the world
might be multiplied by
implementing a subsidy on the
interest rate of productive
funding.
In addition, he said, the
country´s investment must be
increased to nearly 30 percent,
in line with the scope of the
Gross Domestic Product.
Nicaragua is one of the two
poorest countries of the Western
Hemisphere, with 75 percent of
the population living below the
poverty line.
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