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Weekly Report - 18 June 2009 (WR-09-24)
NICARAGUA: US cuts MCC aid; Venezuela to the rescue?
The US government last week announced its “definitive" decision to
cancel some US$62m (out of a total of US$175m) in aid to Nicaragua through the
Millennium Challenge Corporation (MCC) in light of President Daniel
Ortega's failure to address transparency concerns regarding the November 2008
municipal elections. Following the announcement - which could jeopardise further
international aid at a time when Nicaragua is suffering the effects of the
global financial crisis - Ortega declared that the shortfall would be
compensated in part through the Venezuelan-led integration bloc, Alba. The
proposal has met with scepticism given the lack of transparency surrounding
existing cooperation with Venezuela.
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