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

November 20, 2020

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2020) accessed November 8, 2024

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.

Subject: COVID-19, Credit, Currencies, Economic sectors, Health, Money, Public debt, Public sector, Rapid Credit Facility

Keywords: COVID-19, CR, Credit, Currencies, Global, Health response, ISCR, Mitigation measure, Pandemic shock, Public health expenditure, Public sector, RCF-RFI disbursement, RCF-RFI resource, RFI financing

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/307
Stock No:

1NICEA2020002
ISBN:

9781513561745
ISSN:

1934-7685

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