"Nicaragua has advanced greatly in recent years consolidating its economic stability, improving macroeconomic balances and reducing vulnerabilities."
From a statement issued by the International Monetary Fund (IMF):
Mr. Min Zhu, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement at the conclusion of his visit to Nicaragua today:
The report highlights that the economic slowdown that had been observed in the year seems to have stopped in September and that the pace of overall economic activity exceeds that of other countries in the region.
From a statement issued by the Nicaraguan Foundation for Economic and Social Development (FUNIDES):
FUNIDES notes that during 2014, economic activity, measured by the Monthly Economic Activity Index (IMAE) has been declining, leading to this year closing with less than last year's growth. The IMAE decreased from 4.7% in January to 3.7% in September, the last month for which data is available. But this slowdown seems to have stopped in September. Despite this economic activity is relatively high when compared with other Central American countries.
In Nicaragua a proposal has been made to create a training center to improve the labor performance in free zones and attract more foreign investment to the sector.
In order to improve employees skills and increase the productivity and competitiveness of enterprises, the National Commission of Free Zones (CNZF) is proposing the creation of a textile school, where ongoing training on production techniques would be provided for the sector.
The Central Bank intends to adopt international standards for the system of performance indicators of the economy.
Projected for the period 2014-2021, the Programme for Modernization of Macroeconomic Statistics, as well as including new indicators, will have qualitative changes in databases and modernization of the presentation of results, including the renovation of urban and rural mapping and creation of a digital directory of buildings.
The economy grew by 4.6% in 2013, driven by private consumption, exports and government spending.
The greater optimism envisioned by entrepreneurs for the future of the economy validates the results achieved in 2013, according to the Economic Situation report by the Foundation for Economic and Social Development (Funides).
Funides report:
The economy grew for the third consecutive year at high rates.
In Fitch's opinion (in the Special Report), the complex economic environment in the region is starting to have an effect on the performance of the banks in Central America.
"Results for the first half of 2008 indicate that the slump in the economy and the increase in inflation have weakened the quality of bank assets," indicated the report. "Possible increases in international and local interest rates to try to control inflation will complicate this situation," the report continues.