LatinNews Daily Report - 03 April 2012

Nicaragua | Foreign cooperation. On 2 April Nicaragua’s Central Bank (BCN) released its report on foreign cooperation in 2011, which showed that cooperation from Venezuela (which is not included in the State budget) reached US$609m in 2011, up 14% from the US$533m received in 2010. According to the report, US$557.4m was via petrol cooperation through  Albanisa (the bi-national state oil company set up in 2007, 51% of which is owned by Venezuela's Petróleos de Venezuela (Pdvsa) and the remainder by Nicaragua's Petronic); US$6.7m in bilateral cooperation; and US$45m via foreign direct investment (FDI).  This marks a change from the previous year, when US$337m came from petrol funds, US$163m through bilateral cooperation and US$11m in FDI. Overall, foreign cooperation was US$1.4bn in 2011, up 4.7% from the previous year.

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