- The payment that had to be made with food, in many cases, resulted in a fraudulent system of overpricing and false deliveries that benefited regional political alliances and local corruption more than the welfare of the people who put the oil.
“It is very urgent to plan with Nicaragua,” wrote Nicolás Maduro, president of Venezuela, right next to his approval signature. The document that he signed on March 23, 2015 detailed an offer of imports for 446.3 million dollars in beef, coffee, sugar, sunflower oil, milk and black beans to be dispatched during that year from the Central American nation governed by his ally Daniel Ortega.
More than 300 million dollars were concentrated in the first three lines, quoted at prices that exceeded international references or were among the highest presented in the recent history of Nicaraguan exports. That luxury was assumed by the Venezuelan government despite the fact that the global oil market on which its finances and those of the country depend had already suffered a 50 percent collapse.