Nicaragua Rejects US Congressional Passage of NICA Act

The United States Congress (U.S.) approved Tuesday the Nicaraguan Investment Conditionality Act (Nica Act) which seeks to sanction the government of Nicaraguan President Daniel Ortega.

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After the approval of Congress, U.S. President Donald Trump has a period of ten days to sign and formalize the law for the sanctions to come into effect. It's largely expected that he will sign considering he signed an executive order in November personally sanctioning members of the Ortega's government.

With the Nica Act the U.S. government will put restrictions on loans from international financial institutions destined for Nicaragua.

Upon passing the law,  President Daniel Ortega of Nicaragua rejected it as an interventionist law seeking to harm the economy of the Central American country. It was also rejected in a large part by the Nicaraguan people, who consider it to be detrimental to Nicaragua's democracy, according to a survey by M & R Consultores.