Nicaragua: 2023 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Nigcaragua: 2023 Article IV Consultation-Press Release; and Staff Report

Volume/Issue: Volume 2024 Issue 018

Publication date: January 2024

ISBN: 9798400265037

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , government institution , government deposit , exports threshold , authorities' effort , financial asset , burden indicator , central bank , Public sector , Government finance statistics , Foreign direct investment , Global , Central America

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Summary

The Nicaraguan economy remained resilient through multiple shocks over the past five years, supported by appropriate policies, substantial pre-crisis buffers (primarily government deposits), and multilaterals support. After a strong rebound in 2021, the economy continued to grow at a steady pace in 2022 and through June 2023 (3.8 percent). Inflation slowed down, the fiscal position turned into a surplus, and record-high remittances, sustained Foreign Direct Investment (FDI) and prudent policies supported a continued accumulation of gross international reserves. Banks remain well capitalized, and the loan portfolio is steadily improving with the economic recovery.