Nicaragua Adheres to Sucre
Thursday, November 29, 2012
Nicaragua's National Assembly approved the country's accession to the SUCRE regional payments system.
A press release from the National Assembly of Nicaragua reads:

The Treaty Establishing the Regional Clearance Unitary System (SUCRE) was approved on November 28 by the plenary by a decree.

One of the arguments supporting this treaty was that Nicaragua will have access to a market of 68 million people.
Deputy Jose Figueroa, Vice-Chairman of Production, Economy and Budget, said that among the countries of the Bolivarian
Alternative for the Peoples of Our America (ALBA) there is trade worth around one billion dollars a year and our country, could not go beyond the Venezuelan market, as we had not approved the treaty.

One of the largest markets in the states subscribed to Sucre is Venezuela. Nicaragua's exports to this southern country from 2010 to 2011 increased by more than $54 million.
Source:Nicaragua National Assembly
Source:Nicaragua National Assembly
More on this topic
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March 2013
Nicaraguan businesses say they will continue to manage their business operations in dollars because they are not prepared to use the Sucre.
"There aren't any business (signed up to) to the Superior Council of Private Enterprise" (COSEP), the most important business association in Nicaragua, who have, at this time, the possibility of using the mechanism of Single Regional Compensation System (sucre)", said the head of the organization, Joseph Adam Aguerri.
Nicaragua: Pressure to Ratify Sucre as Currency
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Pending in the Nicaraguan National Assembly is adherence to the Unitary System for Regional Compensation Payments, using the Sucre as currency in trade between the member countries of the Bolivarian Alliance.
Alberto Guevara, president of the Central Bank of Nicaragua (BCN in Spanish), urged members of the Committee on Production, Economics and Budget of the National Assembly, to ratify the agreement by which the country adheres to the Unitary System of Regional payments (known as Sucre).
Nicaragua to Adopt SUCRE
March 2010
The Central Bank of Nicaragua has earmarked $24 million for an account in SUCRE to be used by importers and exporters.
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Alba To Implement Sucre for Payments
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A rice shipment from Venezuela to Cuba will become the first trade transaction done using Sucres ("Unitary System for the Regional Compensation of Payments").
The announcement was made by Venezuelan president Hugo Chávez.
Key entities
Alternativa Bolivariana de las Américas (ALBA)Central Bank of Nicaragua
Countries
Nicaragua
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RELACIONADO
Alternativa Bolivariana de las Américas (ALBA)
International Commerce
Sucre currency
Central Bank of Nicaragua
Exports & imports
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