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Nicaragua Receives International Assistance to Buy Back Debt at Deep Discount

LADB Article ID: 56012
Category/Department: Nicaragua
Date: 1995-07-27
By: LADB Staff

On July 18, Foreign Minister Ernesto Leal announced that Nicaragua will attempt to buy back its commercial debt from international banks at a rate of no more than eight cents on the dollar. Though this 92% discount is approximately what the paper is trading for now, Minister of Foreign Cooperation Erwin Kruger said the amount offered to creditors will not be dictated by the discount prevailing in the secondary market.

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