Tuesday 28 September 2021

Nicaragua’s Private Sector Lobby Gets Into Gear to Stop US Economic Sanctions

Paying the bills


Panama will vaccinate tourists

Q24N - Non-immunized tourists visiting Panama will receive the...

End of 2021 would be the beginning of a “good” high season in tourism

QCOSTARICA - The end of 2021 would mark the...

Costa Rica 4th Latin American country best prepared to develop high-impact ventures

QCOSTARICA - Costa Rica is the fourth best ecosystem...

CCSS applied 195,598 first doses of vaccine against covid-19 during the Vaccination

QCOSTARICA - The vaccination teams of the Caja Costarricense...

Can tourists get vaccinated in Costa Rica?

QCOSTARICA - Can tourists be vaccinated in Costa Rica,...

Today’s Vehicle Restriction September 28: Plates ending in “3 & 4” CANNOT circulate

QCOSTARICA - For today, Tuesday, September 28, vehicles with...

Mexico reveals why it rejects tourists from Costa Rica

QCOSTARICA - Mexico has been one of the favorite...
Paying the bills


In order to prevent or at least soften similar economic sanctions, AmCham hired the US consulting firm Carmen Group Incorporated “to take due steps” with the US Congress and Trump administration. (Actualidad Venezuela)

The American Chamber of Commerce of Nicaragua (AmCham) is taking measures to prevent the US government from placing economic sanctions on the country similar to those targeting the Venezuelan regime of Nicolás Maduro, which affected both high-standing officials and its oil trade.

In order to prevent or at least soften similar economic sanctions, AmCham hired the US consulting firm Carmen Group Incorporated “to take due steps” with the US Congress and Trump administration so that measures “not be applied to our country, which would affect investment and trade with the United States.”

The US is Nicaragua’s main trading partner, the organization said in a statement.

- Advertisement -

AmCham is reportedly in a hurry to settle the issue, because investment conditions with the United States — H.R. 1918, also known as the Nica Act — will be discussed Tuesday, October 3.

“The Nica Act is as good as approved,” Bosco Noguera, who currently serves as Secretary of the Amcham board of directors, said. “The main focus is to avoid economic sanctions beyond of the Nica Act, such as those applied to Venezuela. We are talking about economic prohibitions that prevent any American citizen or company from dealing with certain economic agents.”

He added: “We have been told directly in the United States: ‘there are stronger sanctions than you think.’ So what is being pursued in AmCham is that the Nica Act not serve as a platform that leads to further sanctions, and we must do everything in our scope, as a private sector, to avoid breaking trade with the United States.”


AmCham said there have been several warning signs that the US could impose stronger sanctions, including a warning from the US Embassy’s financial adviser in Managua, William Muntean, that officials should be careful about doing business with Alba of Nicaragua S.A. (Albanisa).

Roberto Sansón, former President of AmCham, said that “Nicaragua has become a sensitive issue” for the United States, because the regime led by Daniel Ortega “sympathizes with and supports the Venezuelan (government). Many officials in Washington do not necessarily understand the impact that measures like these would have, and punishing a country for a political affiliation could destabilize them.”

- Advertisement -

Source: La Prensa, via Panampost.com

Article originally appeared on Today Nicaragua and is republished here with permission.

- Advertisement -
Paying the bills
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Bianca, Mick Jagger’s first wife: “Nicaraguan by grace of God”

QCOSTARICA - Bianca Jagger, who was the first wife of The...

What is Daniel Ortega looking for in Russia?

TODAY NICARAGUA – “The Nicaraguan delegation has been able to verify...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Article originally appeared on Today Nicaragua and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.