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.
Like in other Central American countries, economic growth is expected to decelerate, on the back of the U.S. slowdown.
Gradual increase in exchange rate flexibility, supported by fiscal consolidation, wage moderation, and a prudent monetary policy.
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.
The rate of economic growth has slowed down in Costa Rica, according to central bank figures published Monday.
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