Nicaragua and IMF Agree to Extend Economic Program

The country and the IMF agreed to extend the three-year financial and economic program signed in October 2007 for two more months.

Monday, September 20, 2010

By signing the letter of intent (which must be ratified by the board of the International Monetary Fund-IMF), the economic program will conclude this next December and not on October 4th, as originally planned.

"The head of the bank said that once the agreement is ratified, the multilateral agency will disburse $36 million to Nicaragua. Nicaragua and the IMF concluded yesterday the second round of negotiations of the fourth and fifth review of the economic program, which both parties signed in October 2007".

More on this topic

IMF Completes Review of Honduras

April 2011

IMF Executive Board Completes First Review of Honduras' Economic Program.

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Honduras' economic performance under a program that combines two different IMF credit lines, the Stand-By Arrangement (SBA) and the Stand-By Credit Facility (SCF).

IMF Approves Renewal of Agreement with Nicaragua

November 2010

The extension allows the immediate disbursement of $ 20 million.

The Executive Board of the International Monetary Fund (IMF) today completed the fourth and fifth review of economic developments in Nicaragua under the Credit Facility Extended (SCA) and agreed to extend the agreement until December 4th, 2011.

Nicaragua Concludes IMF Negotiation

September 2010

The country expects to signs a Letter of Intent related to the technical extension of the IMF's Extended Credit Facility.

Antenor Rosales, President of Nicaragua's Central Bank, added that in this week's negotiations they have discussed two letters of intent.

"The first is related to the fourth and fifth revision of the economic program and its enlargement for 2011, while the other is about a discussed two-month extension, which could be signed today", reported El Nuevo Diario on its website.

Nicaragua to Ask IMF to Extend Economic Program

September 2010

The president of the central bank announced that they will request a year's extension for the program due to expire in October.

Antenor Rosales, Nicaraguan Central Bank president, indicated that the request to the International Monetary Fund (IMF) is to continue the program, which was signed in 2007, until 2011 (election year).

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