Nicaragua needs political will to overcome its problems

Nicaragua needs to grow by at least six percent while holding inflation down to 10 percent.

Monday, July 14, 2008

That's the view of economist René Vallecillo, who said the nation is pitifully short of achieving its millennium goals, which include improvement in education, health, drinking water, and lifestyles.
He said that in order to achieve improvements like this, a nation must achieve growth in Gross National Product greater than the growth of population.
Vallecillo attributes Nicaragua's failure to reach its goals to a combination of high and rising oil prices and a failure of political will to set good economic and social policies.
He agrees with economist Néstor Avendaño, who thinks the nation is close to facing a grave problem, that of stagflation.

More on this topic

Nicaragua: Bank Lending Continues to Fall

August 2011

During the first six months of the year reduction in the loan portfolio was $59 million.

Banks stricter attitudes to granting financing seem to be one of the main reasons behind the decrease in loan funding in recent months.

The reduction is striking especially at a time when the country's economic activity is vigorous, with a strengthened consumer sector explaining an important part of overall growth.

Nicaraguan economy marked by stagnation and inflation

October 2008

A marked slowdown in economic growth and the increase in inflation keep the Nicaragua economy in stagflation.

In the context of an election process and a difficult global situation, this reveals a Nicaragua with a index of risk in the third quarter of the year, greater than for the same period in 2007.

Panama's inflation rate at 7.2%, growth 8%

July 2008

Panama's inflation rate is taking a leap of a three percent compared to the year-earlier figure, but growth is likely to remain strong.

"We believe that we're going to see inflation of three percent higher than in 2007, which was 4.2 percent," said Panama's Minister of Education and Finance Hector Alexander.

Analysts pessimistic about Guatemala's economy

July 2008

A group of private analysts who are consulting for the Bank of Guatemala are predicting that annual inflation will be 11.86 percent by year-end.

The believe inflation will remain in double digits (10.7 percent) in 2009 as a result of the high oil prices. In addition, food prices have risen more than 12 percent in recent months.

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