Dictator Daniel Ortega was left with pure bravado with his vaunted Law for the Protection of Sanctioned Persons. On November 27, 72 hours after the promulgation, he ordered the Superintendency of Banks and Other Financial Institutions (SIBOIF) to guide national banks that they can continue to comply with their international contractual commitments, which for experts that means “abide by the sanctions.” ».
The document, signed by the political operator of the dictatorship, who plays the role of superintendent of banks, Luis Ángel Montenegro, indicates that, to comply with Law 1224: 1) «Financial institutions must maintain compliance with the regulations against money laundering. of assets and financing of terrorism.
And as point 2), “financial institutions must establish intensified due diligence measures for clients designated on (sanctioned) lists, and must report to the Financial Analysis Unit (UAF). It must be verified that the provision of international financial services for these clients (those sanctioned) corresponds to international contractual regulations,” the circular details.
A source of Article 66 confirmed that, indeed, the circular has been sent to the management of all banks operating in the country.
“The Ortega-Murillo regime has backed down, that is the only interpretation that can be given to the circular sent to the banks by the SIBOIF,” said the informant, linked to the banking system, and who spoke with Article 66 on condition of anonymity.
«It could be a sign that they want to back down. With sanctions there are no half measures, either you comply or you don’t comply,” said the source when referring to strict compliance with the actions brought against the officials of the dictatorship by the US, Canada and the European Union.
If the correspondents were canceled, in the opinion of experts, it would be a financial catastrophe for the country, since the flow of billions of dollars, product of remittances and trade, to Nicaragua that move through these banking relationships would be stopped.
The Central Bank of Nicaragua (BCN) announced, through a press releasewhich will maintain the sliding rate of the córdoba exchange rate against the dollar at zero percent annually during the year 2025.
This implies that the official exchange rate will remain fixed at 36.6243 córdobas per one dollar, consolidating an exchange rate policy implemented since January 2024.
The decision responds to an economic context that the BCN describes as favorable, characterized by “sustained economic growth, low inflation, stability of the financial system and balanced external accounts.” This announcement also includes new provisions aimed at reinforcing the use of the córdoba as a means of payment in national transactions.
In the same communication, the BCN announces that as of January 1, 2025, it will guarantee that all economic agents operating in the national territory must express the prices of goods and services exclusively in córdobas, using the symbol “C$.”
The teenagers Aleyda Patricia Sánchez, 14 years old, and Valeria Michel Castro, 15 years old, reported missing since last November 23, were kidnapped in the Santa Rosa community, in El Sauce, León. Both, according to reports from official media, have already been “rescued” by the National Police.
The minors live in the Milagro de Dios and Laureles Sur neighborhoods, in Managua, and were allegedly taken out of their homes, where their captors also ordered them to leave letters in which they made the families believe that they had left for willpower.
At the time of the rescue of the teenagers, according to official reports, the National Police captured and has detained in the El Sauce police station, in León, several people, who allegedly participated in the kidnapping of the minors.
