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IMF begins talks with Nicaragua on its national economy |
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11:26, June 10, 2008 |
A special mission of the International Monetary Fund (IMF) Monday began talks with the Nicaraguan government on its national economy.
They discussed the inflationary spiral in Nicaragua that has evoked concerns of the IMF as well as the country's use of Welfare funds to support private projects.
The talks followed controversial remarks made recently by Nicaraguan President Daniel Ortega that his country can proceed "with or without the IMF."
"We have richness in Nicaragua and the people from the Fund must have it clear," the president said at at meeting with local businessmen.
Political opposition and independent analysts said the president's remarks were inappropriate and could put at risk Nicaragua's cooperation with international organizations.
The IMF is withholding a 39-million-U.S.-dollar expenditure out of a total of 111 million dollars it has pledged for a three-year program in Nicaragua, pending the approval of an anti-fraud law in its parliament.
Source: Xinhua
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