*Nicaragua’s President Daniel Ortega has authorised an increase in the amount that central government can contract in foreign debt to US$1.21bn, up from US$707m previously. This is in order to accommodate loans recently signed with China. One of those loans totalled ¥1.80bn (US$248.48m) for the construction of phase two of the Litoral del Pacífico highway along the Pacific coast, while the other was for ¥242.39m with China CAMC Engineering to fund Nicaragua’s national disaster prevention and relief system (Sinapred).
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LatinNews Daily - 04 July 2024
In brief: Nicaragua’s Ortega raises foreign debt ceiling
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