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Ortega received $500 million from Chávez last year

Thursday, April 7, 2011


Nicaragua’s president, Daniel Ortega, received financial aid of $511 million from his Venezuelan counterpart, Hugo Chávez, last year.

According to Nicaragua’s central bank, some $337 million of the total came in the form of contributions from the Petrocaribe oil pact.

A further $163 million was provided by Venezuela in medium-term financing for development projects. The remaining $11 million was described as foreign investment.

Original source (in Spanish): El Universal