{
  "title": "Nicaragua: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua",
  "publication": "IMF Staff Country Reports, January 27, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/01/27/nicaragua-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-528639",
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  "summary": "This 2022 Article IV Consultation highlights that prudent macroeconomic policies, substantial pre-crisis buffers and official external financial assistance helped Nicaragua’s economy rebound from a protracted contraction during 2018–2020, caused by the socio-political crisis of 2018, two major hurri",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Prudent macroeconomic policies, substantial pre-crisis buffers and official external financial assistance helped Nicaragua’s economy rebound from a protracted contraction during 2018–2020, caused by the socio-political crisis of 2018, two major hurricanes in 2020, and the pandemic.\n- Inflation reached 11.4 percent in November 2022, primarily due to import price increases.\n- In the medium term, real GDP is expected to grow by about 3 1/2 percent, below the pre-crisis historical average, as credit to the private sector and private investment cautiously recover."
    },
    {
      "heading": "Projections and outlook",
      "content": "- Real gross domestic product (GDP) growth is expected to moderate to 3 percent in 2023, due mainly to the global slowdown.\n- Inflation is projected to decline in 2023 in line with lower growth and an expected significant decline in global inflation."
    },
    {
      "heading": "Risks and downside scenarios",
      "content": "- The favorable outlook is subject to uncertainty and risks on the downside, primarily due to:\n  - external developments,\n  - natural disasters,\n  - deterioration in the business climate, and\n  - stricter international sanctions."
    },
    {
      "heading": "Policy implications and considerations",
      "content": "- Continuation of prudent macroeconomic policies and maintenance of pre-crisis buffers contributed to the rebound and remain important to sustain recovery.\n- Official external financial assistance played a supportive role in the rebound and is a factor to consider in policy planning as the economy transitions to moderate growth and recovery of private credit and investment.\n\nInternational Monetary Fund. Nicaragua: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua.\n\n---\n\n Content in this bundle\n\n- 1nicea2023001\n  - 1nicea2023001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1nicea2023001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 27, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400230783.002",
    "Prudent macroeconomic policies, substantial pre-crisis buffers and official external financial assistance helped Nicaragua’s economy rebound from a protracted contraction during 2018–2020, caused by the socio-political crisis of 2018, two major hurricanes in 2020, and the pandemic.",
    "Inflation reached 11.4 percent in November 2022, primarily due to import price increases.",
    "In the medium term, real GDP is expected to grow by about 3 1/2 percent, below the pre-crisis historical average, as credit to the private sector and private investment cautiously recover.",
    "Real gross domestic product (GDP) growth is expected to moderate to 3 percent in 2023, due mainly to the global slowdown.",
    "Inflation is projected to decline in 2023 in line with lower growth and an expected significant decline in global inflation.",
    "The favorable outlook is subject to uncertainty and risks on the downside, primarily due to:",
    "Continuation of prudent macroeconomic policies and maintenance of pre-crisis buffers contributed to the rebound and remain important to sustain recovery.",
    "Official external financial assistance played a supportive role in the rebound and is a factor to consider in policy planning as the economy transitions to moderate growth and recovery of private credit and investment.",
    "**1nicea2023001**"
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