Nicaragua’s economic performance exceeds IMF expectations
According to the IMF, this excellent performance will continue in 2018 with a GDP growth rate of 4.7 percent.
Managua, Nicaragua; February 6, 2018
The official visit of International Monetary Fund (IMF) staff to Nicaragua concluded on February 6th, with a very positive statement: “economic performance in 2017 was above expectations and the 2018 outlook is favorable.” According to the IMF, this excellent performance will continue in 2018 with a GDP growth rate of 4.7 percent.
Fernando Delgado, chief representative of the IMF mission, stressed that the economic dynamism of Nicaragua in 2017 was higher than projected. “In terms of real GDP it grew 4.9 percent, driven mainly by external demand, export growth and a strong increase in tourism and remittances. This has had a very important effect in reducing the current account deficit, allowing savings in important reserves,” Delgado added.
In addition to the IMF’S positive statements, the World Bank´s Global Economic Projections 2018, predicts the Nicaraguan economy will be the third fastest growing in Latin America. The entity highlights that Nicaragua has robust domestic demand and growing investment as well as private consumption flows.
For its part, the Nicaraguan Central Bank’s Macroeconomic Projections 2017-2018 highlights that the GDP growth rate is expected to remain between the 4.5 and 5 percent, supported mainly by manufacturing, commerce and construction.
IMF missions are carried out as part of regular consultations -usually annual- contemplated in Article IV of the Articles of Agreement, within the framework of a request to use the agency's resources as part of the talks on programs supervised by IMF staff.
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