Debt relief money diverted in Nicaragua

A new report shows that debt relief in Nicaragua is only partly going to poverty reduction. The expected relief from debt servicing for 2003 is nearly $214 million, however the national budget indicates that only $98.4 million was set aside for poverty reduction expenditure. The report says this is because the government is prioritising - with IMF support - internal debt payments to the private sector. Nicaragua is on the IMF's Board agenda for June.

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Published: 26 May 2003 , last edited: 27 May 2010

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