Ortega opts for new PRGF for Nicaragua

News|Bretton Woods Project|31 January 2007|update 54|url
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Newly elected Nicaraguan president Daniel Ortega and his Sandinista party are presenting two different faces to the IMF. Ortega, a former left-wing revolutionary, has been wooing the Fund and investors with a soft approach to international institutions. He asked IFI officials for more aid on easier terms in December before he took office. At the same time, Orlando Nuñéz, a Sandinista who leads the government’s coalition against poverty proclaimed: “We have criticized the IMF and will continue to do so, not only on behalf of the government but also as a society.”. Some Nicaraguan NGOs are infuriated with Ortega’s willingness to go back to the Fund. Adolfo Acevedo of Coordinadora Civil said that a new PRGF agreement “would represent the final culmination of Nicaragua’s subordination to IMF conditionality.”

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Published: 31 January 2007 , last edited: 27 May 2010

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