Nicaragua : Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

November 20, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Nicaragua faces an acute crisis as the COVID-19 shock comes on top of a two- year recession. So far, the speed of transmission of the pandemic in Nicaragua, in terms of officially confirmed cases, has been slower than in neighboring countries, but this may understate the true spread of the disease. The pandemic is expected to produce the third year of consecutive recession and lead to large fiscal and external financing needs given the impact of voluntary distancing and regional and global spillovers. The very limited fiscal space, eroded by the ongoing recession and the limited external financing, constrains the authorities’ ability to self-finance the emergency response.

Series:

Country Report No. 2020/307

Subject:

Frequency:

regular

English

Publication Date:

November 20, 2020

ISBN/ISSN:

9781513561745/1934-7685

Stock No:

1NICEA2020002

Format:

Paper

Pages:

55

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