At the end of the fifth month of 2019, Nicaragua's public external debt reached $6,011 million, which represents a $61 million increase over what was reported in December 2018.
From the Central Bank of Nicaragua statement:
According to these statistics, the balance of the public external debt up to May 31, 2019 was of 6,011.0 million dollars, which represented a 6.7-million-dollar decrease regarding the balance registered in the previous month (US$6,017.7 million). Compared to the balance up to December 2018 (US$5,949.6 million), this represented a 61.4-million-dollar increase, as a result of disbursements of external loans to the month of May in 149 million dollars, mainly from multilateral institutions (US$125.6 million), and principal payments of contracted debt for 74.3 million dollars.
At the end of the fourth month of 2019, the public external debt reached $6,018 million, which represents a $68 million increase with respect to what was reported in December 2018.
From the Central Bank of Nicaragua report:
According to these statistics, the balance of the public external debt was 6,017.7 million dollars to April 30, 2019, which represented a net increase of 30.1 million dollars regarding the balance registered in the previous month (US$5,987.6 million) and of 68.1 million dollars regarding December 2018 (US$5,949.6 million).
At the end of the first month of 2019, public external debt reached $5.966 million, 7% more than that reported in January 2017, a rise explained by loans granted by multilateral agencies.
The report of the Central Bank of Nicaragua (BCN) "... According to these statistics, public external debt totaled US$5,966.6 million, representing a net increase of US$17.0 million over the previous month.
At the end of last year, Nicaragua's public external debt totaled $5.940 million, 7% more than at the end of 2017.
The Central Bank of Nicaragua reported that "... According to statistics, public external debt totaled $5,940.1 million up to December 2018, representing a $58.3 million net increase over the previous month.
Of this total, US$4,140.7 million are debt with multilateral creditors (69.7%), US$1,748.9 million with bilateral creditors (29.4%) and US$50.5 million with private creditors (0.9%).
At the end of the second quarter of the year, the country reported that the total external debt amounted to $11.728 billion, an amount that exceeds by 1.9% what was recorded at the end of 2017.
Nicaragua's total external debt totaled 11.728 billion dollars, of which 6.0832 billion corresponds to the private sector and 5.6448 billion to the public sector.Total external debt increased by 175.7 million dollars (1.5%), compared to the first quarter of 2018, reported the Central Bank of Nicaragua.
S & P has downgraded the debt rating from B + to B, arguing that the escalation of the internal conflict has weakened governance, and the rating could be reduced again in the next 12 months if the violence continues to rise.
From a press release by Standard & Poor´s:
Heightened domestic conflict and ongoing violence have weakened governability and impaired the predictability and effectiveness of policy implementation in Nicaragua, in our view.
Fitch Ratings is warning that the growing INSS deficit in Nicaragua and the failure of the reform which would have raised contributions of workers and employers, will increase the need for government financing, at about 0.6% of GDP per year.
From a statement issued by Fitch Ratings:
Fitch Ratings-New York-27 April 2018: The Nicaraguan government's rollback of social security (INSS) changes amid widespread protests will lead to increased general government financing requirements and debt in 2018 and 2019, says Fitch Ratings. The INSS cash reserves previously projected to last through 2019 are depleting faster than expected. The protests and violence over INSS changes also underscore political risks from an increasingly centralized policy-making process reflected in Nicaragua's weak governance indicators.
Standard & Poor's has maintained the rating of B+ for long-term sovereign debt, arguing that economic growth is stable and the burden of public debt remains moderate.
From a statement issued by Standard & Poor's:
On Feb. 16, 2018, S&P Global Ratings affirmed its 'B+' long-term local and foreign currency sovereign credit ratings on the Republic of Nicaragua.
The rating agency highlights growth at rates of 5% achieved in the last five years, but estimates that in 2017-18 this will fall to 4.5%, partly due to the effect of a reduction in financial flows from the program with Petrocaribe.
From a statement issued by Fitch Ratings:
Fitch Ratings-New York-23 August 2017: Fitch Ratings has affirmed Nicaragua's Long-term foreign currency Issuer Default Ratings at 'B+' with a Stable Outlook.
The rating agency has kept the debt note at B2 with a stable outlook, but warned that the economy could face potential obstacles in the international political arena.
From a statement issued by the Central Bank of Nicaragua:
Moody's Investors Service updated the Credit Opinion for Nicaragua on Wednesday, May 24, 2017, maintaining its long-term sovereign debt rating in domestic and foreign currency at "B2" with a stable outlook.
The sovereign rating B + with stable outlook is based on the "economic performance, low debt burden of the government, political stability and partnership between government and the private sector through dialogue".
From a statement issued by the Central Bank of Nicaragua:
The Republic of Nicaragua has low per capita income, monetary policy rigidities, and vulnerability to external shocks.
Fitch notes that the relatively favorable external environment will not be enough for Central American countries to improve their credit ratings, which could remain stable despite fiscal problems.
From the press release by Fitch Ratings:
Fitch Ratings-New York-22 October 2015: External tailwinds are unlikely to lead to a significant uplift in Central America's creditworthiness, says Fitch Ratings in a new special report.
With the exception of improvements in Nicaragua and Honduras, in the rest of the Central American countries problems in public finances range from latent in Panama and already serious in Guatemala, to critical in Costa Rica and El Salvador.
From the report "Macrofiscal Profiles: 4th Edition" by the Central American Institute for Fiscal Studies (Icefi):
Better ability to handle fiscal accounts and an upward trend in foreign investment are the factors that the rating based its upgrade on, changing the debt rating from B3 to B2.
From a press release issued by Moody's:
New York, July 10, 2015 -- Moody's Investors Service has upgraded Nicaragua's foreign and local currency government's issuer ratings to B2 from B3; outlook remains stable.