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World IN BRIEF : NICARAGUA : $260-Million Debt Pardoned by U.S.

From Times Staff and Wire Reports

The United States pardoned Nicaragua’s government debt to Washington, wiping $259.5 million off the Central American country’s overall $9-billion foreign debt. The pardoned debt was accumulated by Nicaraguan administrations in the 1960s, ‘70s and ‘80s. It represented 88% of Nicaragua’s total debt with the United States. About $30 million is still owed to the U.S. Export-Import Bank from loans predating Nicaragua’s leftist Sandinista government of the 1980s, a U.S. official said.


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