According to this article at the Chinese newspaper The People’s Daily, the Polish government has forgiven Nicaragua for 30.6 million US dollars used by Nicaragua to purchase crop spraying planes, water pumps, and other components.

Under the framework of Highly Indebted Poor Countries Initiative, Nicaragua is one of 38 countries in the world which qualifies for financial relief of debts. In this Oxfam summary, each Nicaraguan owes $1,300 to the IMF.

I did a quick search on Google looking for “Highly Indebted Poor Countries Initiative, Nicaragua” and found no mention of any other country forgiving Nicaragua’s debt. Could it be that Poland is the first under the HIPC to relieve Nicaragua of debt?

Technorati Tags: news, Polish government, Nicaragua, Highly Indebted Poor Countries Initiative, debt, IMF, HIPC

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