Managua Issues New 10,000-Cordoba Bills
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From Reuters
MANAGUA, Nicaragua — The government of Nicaragua issued higher denomination notes Wednesday to keep pace with soaring inflation, which the government blames on a war by U.S.-funded rebels and the opposition blames on Sandinista economics.
The Central Bank said it was printing 10,000-cordoba bills. The previous top denomination of 5,000 was introduced last month.
The new note will be worth almost $11 at the official rate but only $2.50 on the black market. Independent economists say inflation is heading for annual rates exceeding 100,000%.
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