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).

He recalled that in 2009 Venezuela became the third largest buyer of Nicaraguan products, by purchasing mainly meat, milk and cattle for $160 million.

More on this topic

Nicaragua Adheres to Sucre

November 2012

Nicaragua's National Assembly approved the country's accession to the SUCRE regional payments system.

A press release from the National Assembly of Nicaragua reads:

The Treaty Establishing the Regional Clearance Unitary System (SUCRE) was approved on November 28 by the plenary by a decree.

Nicaragua: NO to Single Regional Compensation System

March 2013

Nicaraguan businesses say they will continue to manage their business operations in dollars because they are not prepared to use the Sucre.

"There aren't any business (signed up to) to the Superior Council of Private Enterprise" (COSEP), the most important business association in Nicaragua, who have, at this time, the possibility of using the mechanism of Single Regional Compensation System (sucre)", said the head of the organization, Joseph Adam Aguerri.

Nicaragua to Adopt SUCRE

March 2010

The Central Bank of Nicaragua has earmarked $24 million for an account in SUCRE to be used by importers and exporters.

Nicaragua becomes the fourth country to implement ALBA’s virtual currency system.

“SUCRE, (Regional Unique Compensation System), was created in 2009 by ALBA, the Bolivarian Alternative to the Americas.

Nicaragua: Pressure to Ratify Sucre as Currency

October 2012

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.

Alberto Guevara, president of the Central Bank of Nicaragua (BCN in Spanish), urged members of the Committee on Production, Economics and Budget of the National Assembly, to ratify the agreement by which the country adheres to the Unitary System of Regional payments (known as Sucre).

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