Old days were better days in Nicaragua

You don't need to be an economist to see that in Nicaragua things were better in the past, and if we don't change direction the country will fall over a precipice, says Fernando Centeno Chiong.

Thursday, June 19, 2008

In an opinion piece in the Nicaraguan newspaper La Prensa, Centeno says a recent report shows that expected economic growth this year will be about 2.5 percent. He adds that that's not much better than zero if you take population growth into account.
Inflation this year will be above 20 percent, which means that at the end of the year 100 córdobas will be worth just 80, he says.
If we compare ourselves to other countries, we'll find that the past year was one of the worst and that this year is going to be the same.

More on this topic

El Salvador as seen by the IMF

January 2009

Like in other Central American countries, economic growth is expected to decelerate, on the back of the U.S. slowdown.

While real GDP growth rose to 4.7 percent in 2007, a record high in the last decade, it is expected to decelerate to 3.2 percent in 2008. However, the monthly economic activity indicator has signaled a mild but steady slowdown thereafter, reaching an average growth rate of 3.2 percent in the year to August.

The IMF's prescription for Honduras

July 2010

Gradual increase in exchange rate flexibility, supported by fiscal consolidation, wage moderation, and a prudent monetary policy.

On July 12, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Honduras.

Background

Nicaragua's growth to slow in 2008

April 2008

The slowdown in the Nicaraguan economy will continue through 2008 when GPD is expected to increase by 3.5 percent, the United Nations Economic Commission on Latin America and the Caribbean (Eclac) predicted.

Last year, Nicaragua's economy grew by 3.8 percent, the second worst performance of the 20 Latin American nations.

Costa Rican economic growth slows to 5.8 percent

July 2008

The rate of economic growth has slowed down in Costa Rica, according to central bank figures published Monday.

During the first quarter, the nation's gross domestic product grew by 5.8 percent compared with the same period of last year. The growth rate is the lowest in eight quarters.

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