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Iran eases $164 million Nicaragua debt to aid Ortega

Thursday, May 31, 2012

Iran remitted $164 million of Nicaraguan debt in a gesture to strengthen economic relations with the government of Daniel Ortega, Iranian Vice President Ali Saeidlo said during a visit to Managua this week.

The debt forgiveness was one of the agreements that President Mahmoud Ahmadinejad promised Ortega after the Nicaraguan leader’s return to power in 2007.

Ortega thanked Iran and said his government is “also ready” to boost trade and investment between the two nations.

Source: Tico Times