Nicaragua: Fourth and Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Requests for Extension of the Arrangement, Rephasing of Access, and Waiver of Nonobservance of Performance of Criterion, and Financing Assurances Review-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Nicaragua

International Monetary Fund

No 2010/376, IMF Staff Country Reports from International Monetary Fund

Abstract: Economic performance in Nicaragua has been better than envisaged; nonetheless, vulnerabilities remain and will be compounded by electoral uncertainties. The decision to use part of the strong revenue performance to lower the fiscal deficit is appropriate. Exchange-rate and monetary policy remain broadly adequate. Fiscal adjustment should set the stage for a strong program of fiscal consolidation following the elections. Continued vigilance in the financial sector will be critical. Improvement in reporting and monitoring of foreign aid flows and transparency is necessary.

Keywords: ISCR; CR; waiver of nonobservance of performance criterion; Three-Year arrangement; Three-Year; waiver; authority; growth potential; requests for extension of the arrangement; Nicaraguan authorities; Aid flows; Government debt management; Global; Central America (search for similar items in EconPapers)
Pages: 64
Date: 2010-12-21
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