January 16, 2021

The Government of Nicaragua seeks to relaunch the state's foreign trade company in the face of the crisis

The Government of Nicaragua seeks to relaunch the state's foreign trade company in the face of the crisis


The Government of Nicaragua sent a bill to Parliament for "strengthening and updating" the state's foreign trade company, amid the serious economic situation generated by the sociopolitical crisis in the country, the Ministry of Finance reported today.

What the Executive is looking for is "to strengthen and modernize Enimport (Nicaraguan Imports Company), which will change its name to Nicaraguan Imports and Exports Company (Enimex)", as announced by the Ministry through government media.

"The strengthening of the company, in addition to streamlining the operation of its bilateral and multilateral agreements, comes to facilitate and reduce costs for international trade operations," said the director of Tax Policy and Fiscal Education of the Ministry, Francisco Abea.

Enimport, a company created in 1980 that belongs to the Ministry of Finance, is the institution in charge of executing the bilateral cooperation agreements and agreements between Nicaragua and other countries, mainly donations.

To become an export company, the new Enimex will have an agroindustrial complex that will collect grains and then sell them abroad.

Abea affirmed that "it is not intended at any time to enter into competition with the private sector in current import and export operations."

The relations between Daniel Ortega's government and Nicaraguan entrepreneurs have been broken since the social explosion of April 18, after several years of working closely, under the "public-private partnership" model.

Nicaragua has experienced a social and political crisis since April, which has generated several protests against the government of President Daniel Ortega and a balance of between 322 and 512 deaths and more than 300 "political prisoners", according to local and foreign human rights organizations, while that the Executive figure in 199 the deceased.

As a result of the crisis, the International Monetary Fund (IMF) projected a contraction in Nicaragua's gross domestic product (GDP) of 4% in 2018 and 1% in 2019, after having reached growths of up to 6.5% in the present decade.

The Central Bank of Nicaragua now estimates economic growth of 1% by 2018, after having projected from 4.5% to 5% before April.

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