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MANAGUA, Nicaragua (AP) - The U.S. government has warned that aid and investment in Nicaragua could be threatened by a proposed property law that is part of a political struggle between this nation's president and Congress.
A statement posted late Wednesday on the U.S. Embassy Web site expressed "great concern" at the Congress-backed plan for a new property institute that will shift oversight of property disputes — hundreds of them involving U.S. citizens — away from the presidency.
"We are concerned at the possible negative impact on bilateral aid to Nicaragua," the U.S. government said. "Respect for property rights is the condition sine qua non for the promotion of investment and economic growth in Nicaragua."
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