{
  "title": "Nicaragua: 2023 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, January 19, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/01/19/nicaragua-2023-article-iv-consultation-press-release-and-staff-report-543914",
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  "summary": "The 2023 Article IV Consultation highlights that Nicaragua’s economy has remained resilient in the face of multiple shocks, supported by appropriate economic policies, substantial buffers, and multilateral support.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Nicaragua’s economy has remained resilient in the face of multiple shocks, supported by appropriate economic policies, substantial buffers, and multilateral support.\n- The external and fiscal positions are assessed to be sustainable under the baseline scenario, given the current policy mix and financing plans."
    },
    {
      "heading": "Growth and Outlook",
      "content": "- In 2024 and the medium-term real Gross domestic Product (GDP) growth is expected to converge to potential sustained by domestic demand and remittances.\n- Near-term upside scenario: higher than projected real GDP growth due to sustained recovery in domestic demand and remittances."
    },
    {
      "heading": "Risks to the Outlook",
      "content": "- Downside risks include:\n  - a deterioration in the terms of trade;\n  - a more severe global downturn than currently incorporated into the baseline scenario;\n  - natural disasters;\n  - stricter international sanctions."
    },
    {
      "heading": "Policy Recommendations and Structural Priorities",
      "content": "- Invest in human capital and infrastructure.\n- Implement policies to raise labor force participation.\n- Enhance the business environment by strengthening government institutions and frameworks in the areas of:\n  - contract enforcement;\n  - protecting property rights;\n  - resolving insolvencies.\n\n---\n\n Content in this bundle\n\n- 1. Nicaragua’s International Trade Linkages\n  - 1. Nicaragua’s International Trade Linkages (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1. Nicaragua’s International Trade Linkages (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 19, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400265037.002",
    "Nicaragua’s economy has remained resilient in the face of multiple shocks, supported by appropriate economic policies, substantial buffers, and multilateral support.",
    "The external and fiscal positions are assessed to be sustainable under the baseline scenario, given the current policy mix and financing plans.",
    "In 2024 and the medium-term real Gross domestic Product (GDP) growth is expected to converge to potential sustained by domestic demand and remittances.",
    "Near-term upside scenario: higher than projected real GDP growth due to sustained recovery in domestic demand and remittances.",
    "Downside risks include:",
    "Invest in human capital and infrastructure.",
    "Implement policies to raise labor force participation.",
    "Enhance the business environment by strengthening government institutions and frameworks in the areas of:",
    "**1. Nicaragua’s International Trade Linkages**"
  ],
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