No Information to Make Decisions

In Nicaragua, the authorities have not published information on the Monthly Index of Economic Activity since February 2019, when the year-on-year fall was 7.5%, a situation that prevents businessmen from making decisions based on the real situation of the economy.

Wednesday, November 6, 2019

The latest report published by the Central Bank of Nicaragua states that in the second month of 2019 the IMAE in the country registered a 7.5% decrease compared to February 2018, mainly because of the behavior of the Hotels and Restaurants, and Fisheries and Aquaculture sectors.

The lack of official information has caused the reports on the economic situation prepared by the Superior Council of Private Enterprise (Cosep) and the Nicaraguan Foundation for Economic and Social Development (Funides), to lack current information.

Laprensa.com.ni reviews that "... The last time that Cosep and Funides disclosed their monitoring was in June of this year and since then the lack of economic information has worsened, which hits the decision-making."

The article adds that "... The business sector has expressed concern about the scarcity of information and for that reason they were waiting for the arrival of the International Monetary Fund mission to clarify the true state of the economy and the recession."

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More on this topic

What are Entrepreneurs Asking for in Order to Face the Crisis?

June 2020

Policies focused on credit restructuring, fiscal incentives for the production of essential goods and improving the efficiency of import and export processes are part of the proposals of the Nicaraguan private sector to face the economic and health crisis.

"In recent weeks, the Superior Council of Private Enterprise (Cosep) has been proposing a series of measures to the authorities in response to the unstoppable advance of the pandemic caused by the outbreak of covid-19 and the alarming situation of the health system," the union explained in a statement.

Business: Making Blind Decisions

December 2019

Because of the tension between the productive sector and the government, coupled with the lack of official statistics from the Central Bank, some companies in Nicaragua have chosen to stop providing information to the authorities.

In an attempt to hide the complicated economic situation, the country is going through, local authorities have not published information on the Monthly Economic Activity Index since February 2019, when the year-on-year drop was 7.5%. This prevents businessmen from making decisions based on the real situation of the economy.

Companies Struggle Through the Crisis

June 2019

After 14 months of socio-political crisis in Nicaragua, companies in the country face a reduction in consumption and investment, as well as the impact on national economic activity of rising unemployment.

According to studies conducted by the Consejo Superior de la Empresa Privada (COSEP) and the Nicaraguan Foundation for Economic and Social Development (FUNIDES), the local economy faces a contraction in economic activity that continues to deepen, prevailing uncertainty and distrust in consumers and investors.

Nicaragua: Sales Keep Falling

November 2018

In September, sales of houses in Nicaragua reported a fall of 80%, and sales of vehicles and hotels were reduced 75% and 70%, respectively, compared to the same month last year.

According to the Second Monitoring of Economic Activities in Nicaragua, prepared by the Superior Council of Private Enterprise (Cosep) and the Nicaraguan Foundation for Economic and Social Development (Funides), during September sales of advertising agencies fell 48%, those of distributors of medical equipment 40% and those of restaurants 35%, compared to the ninth month of 2017.

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