Nicaragua Signs Deal
with IMF
President Daniel Ortega
announced a three-year
agreement with the
International Monetary
Fund that stresses on
social expenses to keep
its macroeconomic
indicators.
Ortega, a harsh critic
of IMF policies as
instrument of the
developed countries,
said the IMF approved
Friday an economic
program that will boost
the Sandinista war on
poverty and hunger.
Nicaragua Central Bank
President Antenor
Rosales said the accord
will secure $110 million
worth in credits for the
next three years.
Rosales said the first
installment, of $18.4
million, could be
available next week, and
will be used to enhance
education coverage,
water supply and
reducing mother-child
mortality.
Nicaragua promised to
keep its macroeconomic
indicators, prevent over
five percent exchange
rate decline and foment
financial security to
attract investments. |
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