Nicaraguan lawmakers voted on Thursday to authorize a $23 million government pur...
MANAGUA - Nicaraguan lawmakers voted on Thursday to authorize a $23 million government purchase of Bancorp, a financial institution that has been sanctioned by the United States for its links to Venezuelan state-owned oil company PDVSA.The acquisition is seen as a way to protect the bank from the tough U.S.
Lawmakers from Ortega’s ruling Sandinista National Liberation Front , who hold a majority in Congress, voted for the measure. Bancorp officials, however, deny that Albanisa or Petroleos de Venezuela, as PDVSA is formally known, have stakes in the bank or influence its operations.
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