Iran Forgives $164 Million of Nicaraguan Debt

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    During a visit to Managua last week, Iranian Vice President Ali Saeidlo forgave $164 million of Nicaraguan of debt in a effort to strengthen ties and economic relations with the Nicaragua government of Daniel Ortega.

    Saeidlo said he made the trip to personally announce the news of forgiving Nicaragua’s debt.

    Thanking Iran, Ortega announced his government will work boost trade and investment with Iran.

    President Mahmoud Ahmadinejad had promised Ortega debt relief after coming back to power in 2007.

    Iranian Vice President Ali Saeidlo will continue his trip to region visiting allied countries to strengthen international support.

    Iran has struggled throughout last year and this year with the international community and sanctions as US and Israel continue to lead the effort to halt Iran’s nuclear efforts.

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