RUSSIA FORGIVES NICARAGUAN DEBT.
Publication: Monitor Volume: 2 Issue: 78
Nicaraguan president Violeta Chamorro said April 19 that Russia had agreed to write off virtually all of the $3.3 billion debt that Managua owed to the former Soviet Union. Erasure of the debt, which was equivalent to one-third of Nicaragua’s total foreign debt, was part of a complex plan backed by the Paris Club and the International Fund. (Reuter, April 19)
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