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The Communications Research Centre of Nicaragua (CINCO) reported that control over television media by the Sandinista National Liberation Front (FSLN) and President Ortega strengthened throughout 2012. National television was increasingly either controlled by FSLN supporters or directly owned and administered by President Ortega's family members.
The two first commercial banks in Nicaragua opened in 1888. The Bank of Nicaragua (Spanish: Banco de Nicaragua), later rebranded as the Bank of Nicaragua Limited, headquartered in London and then merged with the London Limited Bank of Central America, and the Mercantil Agricultural Bank (Spanish: Banco Agrícola Mercantil) that went bankrupt for non-payment of their debtors.
The Inter-American Development Bank (IDB) was instrumental in restructuring Nicaragua's technically bankrupt banking sector. [1] In December 1991, the IDB approved a US$3 million technical cooperation grant to restructure the Central Bank, and in March 1992, it approved a US$3 million loan to a new commercial bank, the Mercantile Bank (Banco Mercantil). [1]
Formerly controlled by parent company CTE Telecom in El Salvador (owned by América Móvil of Mexico), the company started its wireless service as "Personal" around 1999, and later added "ALÓ" with the motto "Facil y Rapido" (Spanish for "Easy and Fast"). In 2009, America Movil unified the brand in Latin America under the name Claro. [8]
M-banking [17] is defined as “a feed where the consumer communicates with a bank using a mobile device, such as a mobile phone or personal digital assistant. In that sense, it can be seen as a subset of electronic banking and an extension of internet banking with its own unique characteristics (Laukkanen & Pasanen, 2008).
The Republic of Nicaragua has a closed numbering plan of eight digits. The change from seven to eight digits occurred in 2009, by adding [1] digit 2 (two) before the existing National Significant Number (NSN) for fixed services, digit 8 (eight) before the existing National Significant Number (NSN) for mobile services.
BANPRO was founded as a private bank in 1991 in Managua, Nicaragua. During the Nicaraguan banking crisis (2000-2002), BANPRO assumed the performing loans in Banco Intercontinental's (INTERBANK) portfolio, while the Central Bank took over control of the nonperforming loans. [2] [3]
In early 2004, Nicaragua secured some $4.5 billion in foreign debt reduction under the International Monetary Fund and World Bank Heavily Indebted Poor Countries initiative. In April 2006, the US-Central America Free Trade Agreement went into effect, expanding export opportunities for Nicaragua's agricultural and manufactured goods.