Development Banker Says US Knew Of Plot To Oust Him Over Nicaragua Loans
After Nicaragua suppressed a violent US-backed 2018 coup d’etat which saw hundreds of deaths, Washington enacted the “Nica Act” sanctions bill in 2018, which largely succeeded in cutting off the country’s funding from international institutions such as the World Bank. According to Nicaragua’s former finance minister, the sanctions had two immediate effects: First, the World Bank stopped financing anti-poverty projects in Nicaragua, meaning that the poorest communities lost funding of around US$500 million annually.