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On September 21, the House of Representatives approved passage H.R. 5708, the Nicaraguan Investment Conditionality Act (NICA) of 2017 that, if it becomes law, will prohibit loans to the government of Nicaragua by international financial institutions unless Nicaragua takes steps to ensure free, fair, and transparent elections as well as the rule of law.
In an interview with Nicaragua’s leading newspaper, La Prensa, PobleteTamargo attorney Jason Poblete said that the NICA law could also lead to economic sanctions being imposed on Nicaraguan officials who violate human rights or ignore the rule of law. The Congress is requesting that executive branch agencies “investigate what is happening in Nicaragua [and] if there are violations of human rights, exclude all those involved in corruption (in Nicaragua) of privileges granted by the United States,” such as visas or, eventually, access to the U.S. financial system Poblete said. A companion measure was introduced in the Senate earlier this month, S.3284. The entire article is available at the La Prensa website. Comments are closed.
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