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Russia Cancels $3.4 billion Nicaraguan Debt

by

Dr. Pyotr Johannevich van de Waal-Palms

Sovetnik Pravitelstva CWA, Tovarichestvo Palmsa, Inc.

Investment Bankers. Washington, United States of America.


Can anyone say why Russia is taking this type of action, while concurrently receiving billions from the U.S., IMF, World Bank and other nations.

RUSSIA CANCELS BULK OF NICARAGUAN DEBT:

Moscow agreed last week to write off 98% of Nicaragua's US$3.4 billion debt to the USSR; the remaining US$70 million will be paid off over 18 years, with payments beginning in 2001. Much of the debt was used to pay for shipments of Soviet weapons, raw materials, and oil. (Natalia Gurushina in OMRI Daily Digest Part I, No. 80, Apr. 23 96)

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