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
IMF Staff Country Reports, November 20, 2020
Source details
- Canonical URL
- 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
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Bibliographic details
- Published: November 20, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513561745.002
Summary findings
- 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.
Key themes and issues
- COVID-19 impact layered on pre-existing two- year recession.
- Official case counts may understate true spread of the disease.
- Expectation of a third consecutive year of recession due to pandemic and spillovers.
- Large fiscal financing needs and large external financing needs driven by voluntary distancing and regional and global spillovers.
- Limited fiscal space and limited external financing constrain emergency response financing.
Subjects and keywords (as listed)
- 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
Key statistics and identifiers
- Publication date: November 20, 2020
- Pages: 55
- Volume: 2020
- Issue: 307
- Series: Country Report No. 2020/307
- DOI: https://doi.org/10.5089/9781513561745.002
- Stock No: 1NICEA2020002
- ISBN: 9781513561745
- ISSN: 1934-7685
International Monetary Fund. Western Hemisphere Dept. "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", IMF Staff Country Reports 2020, 307 (2020).
Content in this bundle
- 1nicea2020002