Nicaragua to Buy Back
Debt
Nicaragua has arranged
to buy back more than
us$1.3 billion of its
foreign debt from
creditors, the finance
ministry said Wednesday.
The operation was
financed by a donation
from the World Bank's
Debt Reduction Facility,
as well as contributions
from various Northern
European countries,
Russia and Britain, the
ministry said in a
statement.
The agreement "will put
an end to various legal
actions filed against
Nicaragua by its
commercial creditors and
will contribute to the
normalization of its
relationship with the
international financial
community," Finance and
Public Credit Minister
Alberto Guevara said.
The debt belongs to
about 110 creditors,
mostly from the United
States. |
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