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).
Laprensa.com.ni reports that "Nicaragua is the only member of Alba that still hasn’t ratified the mechanism yet, so it can not use it. But the rest of the group already has operations in the order of 900 million with the mechanism, 'that's a good sign that the system is already maturing' said Guevara. "
"Guevara says the sucre facilitates trade transactions and reduces transaction costs. The exporter of one country and importer or another can get paid, 'if that is how they wish to', in their local currency, without having to worry about currency exchange.