Nicaragua Plans to Sell Over $200 Million to Venezuela
Antenor Rosales, president of the Central Bank of Nicaragua, stated that in 2010 the country will sell over $200 million to Venezuela.
Monday, March 29, 2010
Some of these transactions will be conducted using SUCRE, an accounting unit devised by the Bolivarian Alliance of the Americas (ALBA).
Nicaragua's National Assembly approved the country's accession to the SUCRE regional payments system.
Nicaraguan businesses say they will continue to manage their business operations in dollars because they are not prepared to use the Sucre.
The Central Bank of Nicaragua has earmarked $24 million for an account in SUCRE to be used by importers and exporters.
Pending in the Nicaraguan National Assembly is adherence to the Unitary System for Regional Compensation Payments, using the Sucre as currency in trade between the member countries of the Bolivarian Alliance.
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