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Caribbean & Central America - February 2012 (ISSN 1741-4458)

NICARAGUA: Donors begin to come off the fence

The European Union (EU) and the US are starting to take a more pronounced stance vis-à-vis the 6 November election, which was controversial due to alleged fraud committed prior to, during and following election day as well as the illegality of President Daniel Ortega’s candidacy. Last month Germany revealed that it was cutting aid as a direct result of these allegations while the US warned that multilateral loans would be subject to “aggressive scrutiny”. How far the measures, which echo the international response to the highly questioned 2008 municipal vote, will impact Ortega remains to be seen, especially given the aid he continues to receive from his close ally, Venezuela’s President Hugo Chávez, which accounted for US$344.6m out of a total US$585m in foreign cooperation.

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