The World - News from July 3, 1988

Nicaragua boosted rates on international telephone calls an average of 700% and on national calls 300%, the Sandinista newspaper Barricada reported. Anastasio Gonzalez, vice minister of the Telecommunications and Mail Institute, was quoted as saying that a three-minute call to the United States, Mexico or Canada will now cost $24, compared to $3 before the hikes, while the monthly telephone rate was increased to $10 from $2.50. The increases, which took effect Friday, follow economic measures announced June 14 that included devaluation of the cordoba, the official currency, from 10 per dollar to 80.