Economist denounces "shady business" with gold in Nicaragua, "$2 billion pocketed"
Nicaragua exports more gold than it produces, with the difference amounting to approximately $2 billion. Economist warns: it could be smuggling or money laundering
TL;DR
- Economist Enrique Sáenz claims a "shady business" exists in Nicaragua's gold exports, potentially generating $2 billion from irregular sources.
- Official statistics show Nicaragua exports more gold than it produces, a gap Sáenz attributes to smuggling or money laundering.
- The difference between gold produced and exported equates to approximately 882,000 ounces and $2 billion in value over recent years.
- Sáenz suggests this involves structured operations, not minor contraband, and may involve elements within the political power structure.
- Gold has become a major export for Nicaragua, but Sáenz questions the lack of coherence between production and export figures.