IMF Staff Country Reports

Nicaragua : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

February 27, 2020

Electronic Access:

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Summary:

Social unrest and its aftermath eroded confidence and caused large capital and bank deposits outflows that resulted in a prolonged output contraction. Banks cut lending, which exacerbated the downturn. Faced with sharply lower revenues and a severe tightening in available financing, including on account of sanctions, the government was forced to cut spending and adopt a procyclical tax package.

Series:

Country Report No. 20/59

Subject:

Central Banks Economic integration Financial and Monetary Sector Financial systems Real sector