IMF Staff Country Reports

IMF Staff Country Reports
Journal
Publisher:
International Monetary Fund
ISSN:
1934-7685
IMF Country Reports cover economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
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Nicaragua : Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua

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Nicaragua : Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Nicaragua
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Volume/Issue:
2020/307
Series:
IMF Staff Country Reports
Author(s):
International Monetary Fund. Western Hemisphere Dept.
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
November 2020
DOI:
http://dx.doi.org/10.5089/9781513561745.002
ISBN:
9781513561745
ISSN:
1934-7685
Page:
55
Nicaragua faces an acute crisis as the COVID-19 shock comes on top of a two- year recession. So far, the speed of transmission of the pandemic in Nicaragua, in terms of officially confirmed cases, has been slower than in neighboring countries, but this may understate the true spread of the disease. The pandemic is expected to produce the third year of consecutive recession and lead to large fiscal and external financing needs given the impact of voluntary distancing and regional and global spillovers. The very limited fiscal space, eroded by the ongoing recession and the limited external financing, constrains the authorities' ability to self-finance the emergency response.
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