Legal Update: Modification of credit conditions in order to face the negative effects of Covid-19 pandemic.
On June 19, the Banks and Other Financial Institutions Superintendency (SIBOIF in Spanish) issued the Resolution Number CD-SIBOIF-1181-1-JUN19-2020 “Standard for granting temporary credit conditions”; for the purpose of mitigating the negative effects of the Covid-19 pandemic and in order to allowing the resumption of activities that generate resource flows and the recovery of loans granted by financial institutions.
LEGAL UPDATE: LAWS, DECREES, AGREEMENTS AND RESOLUTIONS PUBLISHED IN THE OFFICIAL GAZETTE MAY 2020
PRESIDENTIAL DECREE No. 09-2020 DECREE FOR THE UPDATING OF THE NATIONAL RISK ASSESSMENT OF THE ML/FT/FP, THE STRATEGY AND NATIONAL PLAN AML/CFT/CFP dated May 6, 2020. This Decree updates the National Risk Assessment (ENR) of Money Laundering, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction, to identify the threats and vulnerabilities of the country in the face of these scourges, determine the probability and consequences of these, assess risk levels and disseminate its results to all sectors involved in prevention for its observance. Gazette No. 86, Pages 4210 to 4212, dated 05/14/2020.
Legal Update: COVID-19 Stays extensions in Nicaragua.
Foreign citizens whose stay in Nicaragua have expired and cannot return to their countries of origin, may request an extension on a monthly basis before the Directorate of Migration and Foreign Affairs; which will allow them to remain in the country on a regular way while international flights resume.
Legal Update- COVID-19
On May 29, 2020, an Interinstitutional Agreement signed by the Health Ministry, the General Directorate of Customs, the Directorate of Migration and Foreign Affairs, the Ministry of Transport and Infrastructure and the Ministry of Development, Industry and Commerce has been published and it established the reciprocity measures adopted by the Government of Nicaragua with regard to the entry of cargo, Costa Rican drivers and means of transportation registered in Costa Rica, agreeing the following:
Legal Update – COVID-19
As a result of the spread of COVID-19, which on March 11 was classified by the World Health Organization as a “Pandemic”, most of the countries have adopted new regulations to face the consequences that the spread of this coronavirus brings with it and in the same sense Nicaragua to this date, has taken the following measures.