IMF: Nicaragua leads Latin America´s growth rate

Managua, Nicaragua; March 9, 2015

The International Monetary Fund (IMF) highlighted Nicaragua as an example for the rest of Latin American countries in a recent meeting held in Managua, Nicaragua between a delegation of the IMF and representatives of the Central Bank of Nicaragua.

According to the IMF, Nicaragua’s growth rate is higher than the rest of Latin American countries, whose growth rates average 1.2 percent, while Central American countries averaged 2.2 and 2.3 percent. According to Ming Zhu, Deputy Managing Director of the IMF, the macroeconomic policies implemented by the Government of Nicaragua are positive and should serve as an example for Latin America. For 2015, the IMF forecasts a growth of 4.2%, while other organizations consider a higher growth rate.

For the IMF representative, Nicaragua has a very resilient economy driven by its low fiscal deficit (1.6%) in relation to most Latin American countries. Additionally, the total government debt declined from 49 to 42 percent and the country’s external debt is at 46 percent, which is regarded as excellent.

This meeting is part of the existing collaboration between Nicaragua and the IMF, in regard to the next review of the Article 4, which establishes the role of overseeing and monitoring the international monetary system and the financial policies of member countries. Both delegations will be gathered until March 11th in order to assess Nicaragua’s economic behavior and the outlook for 2015.

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En español: FMI: Nicaragua lidera crecimiento en latinoamérica