The Nicaraguan government will review the past privatization of state companies as corruption might have been involved, local media reported on Saturday.

During the privatization of state companies carried out by former President Violeta Barrios de Chamorro who ruled the country from 1990 to 1997, many companies were sold for much lower prices than they were worth, said Ortega, TV Canal 2 reported, quoting remarks from President Daniel Ortega.

Some officials and businessmen might get involved in corruption, he said.

During the 1997-2002 rule of Arnoldo Aleman Lacayo, who was convicted in 2003 of money laundering and embezzlement, some irregularities also might have occurred, he said.

Ortega, 60, was sworn in as the country's president on Jan. 10.

Source: Xinhua