This content was published on July 03, 2023 – 19:41
Tegucigalpa, Jul 3 (EFE).- The president of Nicaragua, Daniel Ortega, authorized this Monday to sign a loan with the World Bank (WB) for 15 million dollars as additional financing for the emergency response project for hurricanes Eta e Iota that hit the Central American country in November 2020.
Through a presidential agreement published in the Official Gazette, La Gaceta, Ortega granted full powers to the Vice Minister of Finance and Public Credit, Bruno Mauricio Gallardo Palaviccine, so that, acting in the name and representation of the Executive, sign with the International Association for the Development of WB the grant agreement “Additional financing for the Eta and Iota emergency response project in Nicaragua”, for an amount of 15 million dollars.
It also authorized him to sign a second amendment to the financing agreement or letter of modification of the Eta and Iota Emergency Response Project, which will be executed by the Ministry of Finance and Public Credit.
Hurricanes Eta and Iota impacted the Caribbean Coast of Nicaragua, in November 2020, in category 4 on the Saffir-Simpson scale, out of a maximum of 5, with a difference of 13 days between one and the other, which left a devastation that the Government calculated at 990 million dollars.
WHY THE VICE MINISTER OF FINANCE?
Meanwhile, Ortega delegates to one of his Vice Ministers of Finance and Public Credit, Bruno Mauricio Gallardo Palaviccine, the legal functions to sign those loans, to circumvent the sanctions that the United States Treasury has imposed on Minister Iván Acosta and also Vice Minister Jose Adam Chavarria Montenegro.
The president appointed Gallardo Palaviccine to that position since November 2021.
Ortega then determined that Gallardo Palaviccine assumes the powers to sign all “documents related to the Administration of public finances of the Ministry of Finance and Public Credit, in addition to the necessary documents for the disbursement of national and foreign funds.”
It is also in charge of signing the documents “derived from the signing and execution of loan contracts, donations and other international financial cooperation mechanisms, prior compliance with the corresponding procedures and regulations, without prejudice to other appointments of the same position and powers in the Ministry of Finance and Public Credit”.
Prior to that appointment, the United States Department of the Treasury imposed sanctions on the Nicaraguan Public Ministry, as well as on nine high-ranking Nicaraguan officials, for their role in the “repression against human rights and fundamental freedoms” after the “farce” of presidential elections on November 7, 2021.
According to the director of the Treasury’s Office of Foreign Assets Control, Andrea Gacki, the “regime” of Daniel Ortega and his wife, Rosario Murillo, is using “legislation and institutions to detain members of the political opposition and deprive Nicaraguans of the right to vote”.
The designated officials are “key partners in Ortega’s anti-democratic policies,” according to the Treasury.EFE
mg/rao/enb
© EFE 2023. The redistribution and redistribution of all or part of the contents of the Efe services is expressly prohibited, without the prior and express consent of Agencia EFE SA
2023-07-03 19:48:26
#Ortega #authorizes #Treasury #sign #loan #million #dollars #World #Bank
