Jump to content
BANGKOK 22 March 2019 02:41
webfact

Loan of $100 million from Taiwan gives lifeline to Nicaragua's Ortega

Recommended Posts

Loan of $100 million from Taiwan gives lifeline to Nicaragua's Ortega

By Ismael Lopez

 

2019-02-20T003912Z_1_LYNXNPEF1J00M_RTROPTP_4_CUBA-ALBA-SUMMIT.JPG

FILE PHOTO: Nicaragua's President Daniel Ortega speaks during the 16th Bolivarian Alliance for the Peoples of Our America-Peoples Trade Agreement (ALBA-TCP) Summit in Havana, Cuba, December 14, 2018. REUTERS/Stringer

 

MANAGUA (Reuters) - Nicaragua's congress on Tuesday accepted a $100 million loan offered by Taiwan, giving a line of support to President Daniel Ortega's government, which has become increasingly isolated after a brutal crackdown on protesters last year.

 

Lawmakers approved the 20-year loan a day after U.S. President Donald Trump declared that "socialism is dying" in Nicaragua, Cuba and Venezuela. The United States enacted a law late last year making it harder for Nicaragua to access multilateral loans.

 

The bill approved by lawmakers from the ruling Sandinista party said the funds were destined to support the country's budget priorities this year. Taiwan's embassy in Managua did not immediately respond to a request for comment.

 

Nicaragua is one of a shrinking number of countries in Central America that still offer U.S.-ally Taiwan diplomatic support over China, which considers Taiwan a renegade province.

 

Former guerrilla leader Ortega's rule was challenged by the protests against a social security reform last year. More than 320 people died in a crackdown that suppressed the protests but led to deep rifts with the private sector and Washington.

 

The United States has imposed sanctions on officials close to Ortega, including his wife, Vice President Rosario Murillo.

 

The Netherlands and Luxembourg last year suspended aid funding to Nicaragua, citing repression during the protests.

 

In the 2019 budget, Nicaragua's congress forecast a budget deficit of $320 million, up from $170 million in December 2018.

 

(Reporting by Ismael Lopez in Managua; Writing by Frank Jack Daniel; Editing by Peter Cooney)

 

reuters_logo.jpg

 -- © Copyright Reuters 2019-02-20

Share this post


Link to post
Share on other sites

My friend is from Nicaragua and his family is still down there. I do not hear good things about it he says some of the pictures they have showed him are pretty hard to look at. 

Share this post


Link to post
Share on other sites

I wonder how much of this loan will end up in a personal "offshore" bank account! 

Share this post


Link to post
Share on other sites

So now the  oriental orphan see's  fit to  save a fellow  victim of  multiple  suppression.

Strange  days ! 

 

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, Dumbastheycome said:

So now the  oriental orphan see's  fit to  save a fellow  victim of  multiple  suppression.

Strange  days ! 

 

 

They want a new port and airport. Nicaragua is Taiwan's biggest trade partner in the region. I wouldn't be surprised if they want a piece of the proposed canal either.

Share this post


Link to post
Share on other sites
2 minutes ago, Cryingdick said:

 

They want a new port and airport. Nicaragua is Taiwan's biggest trade partner in the region. I wouldn't be surprised if they want a piece of the proposed canal either.

So wait see who makes objection. lol

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...