Nicaragua to Ask IMF to Extend Economic Program

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

Tuesday, September 7, 2010

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).

In a press conference, Rosales added that it makes sense that it should be the new government that discusses the basis for Nicaragua's relationship with the IMF in the coming years, according to Terra's web portal.

More on this topic

Nicaragua and IMF Agree to Extend Economic Program

September 2010

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

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.

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 Begins Negotiations with IMF

September 2010

The Nicaraguan government is meeting with an IMF mission to hold discussions on a $78 million loan.

The negotiations will be held in the Nicaraguan capital, Managua, and will continue until 17 September.

El Nuevo Diario reports statements from the president of Nicaragua's central bank, Antenor Rosales: "we are determined to achieve general agreement with this mission to enable the existing credit and debt servicing program we have with the IMF to be formally recognized by the fund's directorate by November or early December".

Nicaragua readies itself for IMF review of its economic program

July 2008

Nicaragua is almost ready for the review of the economic program it has signed with the International Monetary Fund (IMF) by officials of that organization.

Humberto Arbulú, the IMF representative in Nicaragua, said there is a possibility that the program will not be seen until Aug. 6. If that's the case, it will have to wait until the summer recess ends on Aug. 26.

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