Fund Relations

(As of December 31, 2019) Membership Status: Joined: March 14, 1946; Article VIII

General Resources Account:	SDR Million	Percent of Quota
Quota	260.00	100.00
Fund holdings of currency (Exchange Rate)	227.51	87.50
Reserve Tranche Position	32.50	12.50

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General Resources Account:	SDR Million	Percent of Quota
Quota	260.00	100.00
Fund holdings of currency (Exchange Rate)	227.51	87.50
Reserve Tranche Position	32.50	12.50

SDR Department:	SDR Million	Percent of Allocation
Net cumulative allocation	124.54	100.00
Holdings	39.46	31.68

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SDR Department:	SDR Million	Percent of Allocation
Net cumulative allocation	124.54	100.00
Holdings	39.46	31.68

Outstanding Purchases and Loans:	SDR Million	Percent of Quota
ECF Arrangements	6.45	2.48

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Outstanding Purchases and Loans:	SDR Million	Percent of Quota
ECF Arrangements	6.45	2.48

Latest Financial Arrangements:

Type	Date of Arrangement	Expiration Date	Amount Approved (SDR Million)	Amount Drawn (SDR Million)
ECF1	October 5, 2007	October 31, 2011	78.00	78.00
ECF1	December 13, 2002	December 12, 2006	97.50	97.50
ECF1	March 18, 1998	March 17, 2002	148.96	115.32

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Type	Date of Arrangement	Expiration Date	Amount Approved (SDR Million)	Amount Drawn (SDR Million)
ECF1	October 5, 2007	October 31, 2011	78.00	78.00
ECF1	December 13, 2002	December 12, 2006	97.50	97.50
ECF1	March 18, 1998	March 17, 2002	148.96	115.32

Projected Payments to Fund:

(SDR Million; based on existing use of resources and present holdings of SDRs):

	2020	2021	2022	2023	2024
Principal	4.78	1.67
Charges/Interest	0.64	0.63	0.63	0.63	0.63
Total	5.42	2.30	0.63	0.63	0.63

View Table

	2020	2021	2022	2023	2024
Principal	4.78	1.67
Charges/Interest	0.64	0.63	0.63	0.63	0.63
Total	5.42	2.30	0.63	0.63	0.63

Implementation of HIPC Initiative:

I. Commitment of HIPC assistance			Enhance Framework
	Decision point date		Dec 2000
	Assistance committed by all creditors (US$ Million) 2		3,308.00
		Of which: IMF assistance (US$ million)	82.20
		(SDR equivalent in millions)	63.54
	Completion point date		Jan 2004
II. Disbursement of IMF assistance (SDR Million)
	Assistance disbursed to the member		63.54
	Interim assistance		2.55
	Completion point balance		60.99
		Additional disbursement of interest income 3	7.62
Total disbursements			71.16
Implementation of Multilateral Debt Relief Initiative (MDRI):
I. MDRI-eligible debt (SDR Million) 4			140.48
Financed by: MDRI Trust			91.79
Remaining HIPC resources			48.70
II. Debt Relief by Facility (SDR Million)

			Eligible Debt
Delivery date:	GRA	PRGT	Total
January 2006	N/A	140.48	140.48

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I. Commitment of HIPC assistance			Enhance Framework
	Decision point date		Dec 2000
	Assistance committed by all creditors (US$ Million) 2		3,308.00
		Of which: IMF assistance (US$ million)	82.20
		(SDR equivalent in millions)	63.54
	Completion point date		Jan 2004
II. Disbursement of IMF assistance (SDR Million)
	Assistance disbursed to the member		63.54
	Interim assistance		2.55
	Completion point balance		60.99
		Additional disbursement of interest income 3	7.62
Total disbursements			71.16
Implementation of Multilateral Debt Relief Initiative (MDRI):
I. MDRI-eligible debt (SDR Million) 4			140.48
Financed by: MDRI Trust			91.79
Remaining HIPC resources			48.70
II. Debt Relief by Facility (SDR Million)

			Eligible Debt
Delivery date:	GRA	PRGT	Total
January 2006	N/A	140.48	140.48

Implementation of Catastrophe Containment and Relief (CCR): Not Applicable

Exchange Rate Arrangements:

Nicaragua’s de jure and de facto exchange rate regime is classified as a crawling peg. The central bank buys/sells any amount of foreign currency from/to financial institutions at the official exchange rate. In November 2019, the monthly crawl has been reduced to an annual rate of 3 percent, from 5 percent since December 2004. As of December 31, 2019, the official exchange rate was C$33.8381 per U.S. dollar. Nicaragua has accepted the obligations of Article VIII, Sections 2, 3, and 4, and maintains an exchange system free of restrictions on the making of payments and transfers for current international transactions, except for an exchange restriction arising out of Nicaragua’s participation in the SUCRE regional payments arrangement (Unitary System of Regional Compensation of Payments).

Article IV Consultation:

The previous consultation was completed by the Executive Board on June 22, 2017 (Country Report No. 17/173).

Safeguards Assessment:

An updated safeguard assessment of the Central Bank of Nicaragua (CBN) was completed in January 2009. The assessment noted continued progress at the BCN in the areas of International Financial Reporting Standards (IFRS) implementation and reserve management operations. Timely publication of the audited financial statements is in place in accordance with the safeguards policy. The 2018 financial statements were audited and published on the CBN’s website, however, the external audit opinion continues to be qualified due to the uncertainty surrounding the valuation of government debt. Further, implementation of IFRS remains in progress.

Financial Sector Assessment Program (FSAP) Participation:

An FSAP update was completed in October 2009, and the Financial System Stability Assessment report for Nicaragua was issued on April 28, 2010.

Technical Assistance:

Nicaragua has received substantial technical assistance. The schedule below details assistance provided since June 2017.

Department	Purpose	Time of Delivery
	Fiscal
CAPTAC	Improve management of declarations	November 2018, 2019
CAPTAC	Treasury single account	April 2017; March 2019
CAPTAC	Tax administration and audit	December 2018
CAPTAC	Strengthening the taxpayer’s registry	June, October 2017, November 2018
CAPTAC	Treasury cash planning	April 2018
CAPTAC	Strengthening the VAT control	March 2018
CAPTAC	Adjust and Monitor the Strategic Plan for Tax Administration	February 2017, 2018
CAPTAC	Improve audit procedures	January, March 2017; February 2018
CAPTAC	Fiscal risks and financial programming	October 2017
	Monetary and Financial Sector
CAPTAC	Credit risk supervision	April, May 2019, July, August 2017
CAPTAC	Securities market supervision	April 2019
CAPTAC	Supervision of financial instruments	February, April 2018; 2019
MCM	Financial Sector Stability Review	February 2019
CAPTAC	Systemic risk indicators and monitoring	May 2018
CAPTAC	FX Credit risk	November 2017; March 2018
CAPTAC	Financial supervision	December 2017
	Statistics
CAPTAC	Annual and high frequency government finance statistics	June 2019
CAPTAC	Annual and high frequency public sector debt statistics	June 2019
CAPTAC	Coverage and sectorization – TA management	April 2019
STA/CAPTAC	Multisector Statistics	December 2018
CAPTAC	Change of reference year	August 2017; March 2018
CAPTAC	Strengthening of capacity development	December 2017
CAPTAC	Implementation strategy of statistics in public finances	November 2017
CAPTAC	Diagnostic mission of statistics in public finances	November 2017

View Table

Department	Purpose	Time of Delivery
	Fiscal
CAPTAC	Improve management of declarations	November 2018, 2019
CAPTAC	Treasury single account	April 2017; March 2019
CAPTAC	Tax administration and audit	December 2018
CAPTAC	Strengthening the taxpayer’s registry	June, October 2017, November 2018
CAPTAC	Treasury cash planning	April 2018
CAPTAC	Strengthening the VAT control	March 2018
CAPTAC	Adjust and Monitor the Strategic Plan for Tax Administration	February 2017, 2018
CAPTAC	Improve audit procedures	January, March 2017; February 2018
CAPTAC	Fiscal risks and financial programming	October 2017
	Monetary and Financial Sector
CAPTAC	Credit risk supervision	April, May 2019, July, August 2017
CAPTAC	Securities market supervision	April 2019
CAPTAC	Supervision of financial instruments	February, April 2018; 2019
MCM	Financial Sector Stability Review	February 2019
CAPTAC	Systemic risk indicators and monitoring	May 2018
CAPTAC	FX Credit risk	November 2017; March 2018
CAPTAC	Financial supervision	December 2017
	Statistics
CAPTAC	Annual and high frequency government finance statistics	June 2019
CAPTAC	Annual and high frequency public sector debt statistics	June 2019
CAPTAC	Coverage and sectorization – TA management	April 2019
STA/CAPTAC	Multisector Statistics	December 2018
CAPTAC	Change of reference year	August 2017; March 2018
CAPTAC	Strengthening of capacity development	December 2017
CAPTAC	Implementation strategy of statistics in public finances	November 2017
CAPTAC	Diagnostic mission of statistics in public finances	November 2017

Relations with Other International Financial Institutions

World Bank: http://www.worldbank.org/en/country/nicaragua

Interamerican Development Bank: https://www.iadb.org/en/countries/nicaragua/overview

Central American Bank for Economic Integration: https://www.bcie.org/en/member-countries/founders/nicaragua/

Main Websites of Data

Central Bank of Nicaragua (https://www.bcn.gob.ni/)

National accounts

Consumer price index

Monthly indicator of economic activity (IMAE)

Balance of payments

International reserves

Interest rates

Monetary and financial indicators

Exchange rates

Ministry of Finance (http://www.hacienda.gob.ni/)

Fiscal accounts

Central government budget

National Institute of Development Information (https://www.inide.gob.ni/)

Labor and employment

Household income and expenditure survey

Poverty and inequality

Superintendency of Banks (http://www.siboif.gob.ni/)

Balance sheets and income statements

Financial soundness indicators

Statistical Issues

(As of December 31, 2019)

I. Assessment of Data Adequacy for Surveillance

General. Data provision is broadly adequate for surveillance but there are numerous data shortcomings in national accounts, fiscal, debt, and external sector statistics. Moreover, the timeliness in the release of statistical information has deteriorated. Further efforts are needed to improve source data in the real sector, particularly for tourism, manufacturing and retail; incorporate the results of the 2017/18 household survey in the national accounts; harmonize public sector debt with external sector debt data; monitor assets and liabilities of public enterprises; and improve coverage of FDI statistics.

National Accounts. The CBN disseminates national accounts (NA) series based on 2006. As part of this dataset the annual accounts by institutional sector for 2005–14 are disseminated, in accordance with the recommendations of the System of National Accounts 1993 (1993 SNA), and most relevant recommendations of the 2008 SNA for which source data are available. In March 2017, while releasing the 2016 NA data, the CBN had revised earlier years, specifically the 2010–13 data comprising number of refinements (i.e., update of trade and producer price indices, revised agricultural production, and, in particular, addressed discrepancies between NA and the balance of payments (BOP) trade data in the tax-free zones). Since December 2018, the economic surveys for national accounts are collected by the national statistical institute (INIDE). Price and Labor Statistics. The consumer price index (CPI) uses expenditure weights derived from a 2006/07 household expenditure survey. The CPI covers Managua and eight other cities and is published monthly. Expenditures (weights) and prices in rural areas are excluded. From April 2017 to March 2018 a Household Income and Expenditure Survey was collected to update the period of reference of the current CPI, this survey covers only urban population. The producer price index (PPI) (July 2006=100) covers a sample of small and medium-size establishments, as well as goods for processing establishments in the maquila sector. There is also scope for expanding the coverage of the PPI to the service sector. Since September 2018, the price quotations and compilation of the CPI and PPI moved from the CBN to INIDE, but the technical validation and dissemination of both indices remains as the CBN responsibility. Labor market statistics are scarce and unemployment figures are available irregularly during the year.

Government Finance Statistics (GFS). Institutional coverage is not in line with international standards. The consolidated public sector does not cover central government extrabudgetary units, 152 out of 153 municipalities, and 5 out of 10 public nonfinancial corporations. Transactions are recorded mostly on a cash basis but with inconsistencies; for example, checks are recorded when issued rather than when they are cashed. The Ministry of Finance and Public Credit (MHCP) compiles fiscal statistics with a monthly frequency and submits them to the CBN for their inclusion into the CBN’s quarterly reports on public finances which are disseminated on the CBN’s website. These statistics are usually published with about a 5-week lag. Separately the MHCP produces its own quarterly report on budget execution. Annual financial statements of public enterprises are produced, but they are not externally audited or published. Data on the budgetary central government and social security institute are reported for publication in the GFS Yearbook. The monitoring of fiscal performance: (i) is complicated by some idiosyncrasies in classifying/netting expenditure items in the budgetary central government, and (ii) needs significant improvement from the financing side. There is also a need to strengthen collaboration between the MHCP and the CBN to derive more accurate and timely estimates of external and domestic financing of the nonfinancial public sector, including the monitoring of domestic public debt transactions and stock positions in the nonfinancial public sector other than the ones of the budgetary central government. Some positive steps towards compiling statistics on the domestic debt of state-owned enterprises have been taken recently.

II. Assessment of Data Adequacy for Surveillance

Monetary and Financial Statistics. The CBN reports monthly monetary statistics for the central bank, other depository corporations, and other financial corporations based on the standardized report forms. These accord with the concepts and definitions of the Monetary and Financial Statistics Manual 2000 (MFSM 2000). However, the lack of proper sectorization detract from the ability to accurately compile the net credit to central government and the rest of the nonfinancial public sector. The institutional coverage of other depository corporations currently includes commercial banks and finance companies. Data exclude the largest microfinance institution, Caja Rural Nacional (CARUNA), which accepts deposits, and saving and loans cooperatives. Other financial corporations comprise the Banco Produzcamos, most microfinance institutions, insurance corporations, and depository warehouses. The CBN reports the 12 core financial soundness indicators (FSIs) and seven encouraged FSIs for deposit takers with a quarterly frequency. The CBN reports data on some key series and indicators of the Financial Access Survey (FAS), including the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the UN to monitor Target 8.10 of the Sustainable Development Goals (SDGs).

External Sector Statistics. Since September 2013, the BOP statistics follow the concepts and definitions set out in the sixth edition of the Balance of Payments Manual (BPM6), within the limits set by the availability of information sources. Resident institutional units are defined in conformity with BPM6’s concepts of economic territory, residency, and center of economic interest. However, coverage of the private sector is incomplete for the current and financial accounts. The November 2019 TA mission corroborated that the CBN is in the process of revising the transactions and positions of FDI and reinvested earnings from private financial and non-financial companies with the information available. In addition, the series of manufacturing services are being revised historically applying a new methodology. However, the inclusion of these revisions into ESS may take longer than anticipated being the target date late 2020. Looking forward, the central bank also needs to cross check enterprise-by-enterprise trade flows, FDI and external debt to assess any discrepancies between merchandise trade and financial associated flows. These efforts will help to address in part the large errors and omissions in the balance of payments which hinder the assessment of the external sustainability. Preliminary work by the November 2019 TA mission estimate that if revisions are made to the historic series, the average decrease of errors and omission in the BOP during the 2012–2018 period could be around 25 percent of the current errors and omissions average of the same period.

Data Dissemination and Quality. Nicaragua participates in the enhanced General Data Dissemination System (e-GDDS) but has not yet launched a National Summary Data Page (NSDP). Data ROSC was published in December 2005.

View Table

I. Assessment of Data Adequacy for Surveillance

General. Data provision is broadly adequate for surveillance but there are numerous data shortcomings in national accounts, fiscal, debt, and external sector statistics. Moreover, the timeliness in the release of statistical information has deteriorated. Further efforts are needed to improve source data in the real sector, particularly for tourism, manufacturing and retail; incorporate the results of the 2017/18 household survey in the national accounts; harmonize public sector debt with external sector debt data; monitor assets and liabilities of public enterprises; and improve coverage of FDI statistics.

National Accounts. The CBN disseminates national accounts (NA) series based on 2006. As part of this dataset the annual accounts by institutional sector for 2005–14 are disseminated, in accordance with the recommendations of the System of National Accounts 1993 (1993 SNA), and most relevant recommendations of the 2008 SNA for which source data are available. In March 2017, while releasing the 2016 NA data, the CBN had revised earlier years, specifically the 2010–13 data comprising number of refinements (i.e., update of trade and producer price indices, revised agricultural production, and, in particular, addressed discrepancies between NA and the balance of payments (BOP) trade data in the tax-free zones). Since December 2018, the economic surveys for national accounts are collected by the national statistical institute (INIDE). Price and Labor Statistics. The consumer price index (CPI) uses expenditure weights derived from a 2006/07 household expenditure survey. The CPI covers Managua and eight other cities and is published monthly. Expenditures (weights) and prices in rural areas are excluded. From April 2017 to March 2018 a Household Income and Expenditure Survey was collected to update the period of reference of the current CPI, this survey covers only urban population. The producer price index (PPI) (July 2006=100) covers a sample of small and medium-size establishments, as well as goods for processing establishments in the maquila sector. There is also scope for expanding the coverage of the PPI to the service sector. Since September 2018, the price quotations and compilation of the CPI and PPI moved from the CBN to INIDE, but the technical validation and dissemination of both indices remains as the CBN responsibility. Labor market statistics are scarce and unemployment figures are available irregularly during the year.

Government Finance Statistics (GFS). Institutional coverage is not in line with international standards. The consolidated public sector does not cover central government extrabudgetary units, 152 out of 153 municipalities, and 5 out of 10 public nonfinancial corporations. Transactions are recorded mostly on a cash basis but with inconsistencies; for example, checks are recorded when issued rather than when they are cashed. The Ministry of Finance and Public Credit (MHCP) compiles fiscal statistics with a monthly frequency and submits them to the CBN for their inclusion into the CBN’s quarterly reports on public finances which are disseminated on the CBN’s website. These statistics are usually published with about a 5-week lag. Separately the MHCP produces its own quarterly report on budget execution. Annual financial statements of public enterprises are produced, but they are not externally audited or published. Data on the budgetary central government and social security institute are reported for publication in the GFS Yearbook. The monitoring of fiscal performance: (i) is complicated by some idiosyncrasies in classifying/netting expenditure items in the budgetary central government, and (ii) needs significant improvement from the financing side. There is also a need to strengthen collaboration between the MHCP and the CBN to derive more accurate and timely estimates of external and domestic financing of the nonfinancial public sector, including the monitoring of domestic public debt transactions and stock positions in the nonfinancial public sector other than the ones of the budgetary central government. Some positive steps towards compiling statistics on the domestic debt of state-owned enterprises have been taken recently.

II. Assessment of Data Adequacy for Surveillance

Monetary and Financial Statistics. The CBN reports monthly monetary statistics for the central bank, other depository corporations, and other financial corporations based on the standardized report forms. These accord with the concepts and definitions of the Monetary and Financial Statistics Manual 2000 (MFSM 2000). However, the lack of proper sectorization detract from the ability to accurately compile the net credit to central government and the rest of the nonfinancial public sector. The institutional coverage of other depository corporations currently includes commercial banks and finance companies. Data exclude the largest microfinance institution, Caja Rural Nacional (CARUNA), which accepts deposits, and saving and loans cooperatives. Other financial corporations comprise the Banco Produzcamos, most microfinance institutions, insurance corporations, and depository warehouses. The CBN reports the 12 core financial soundness indicators (FSIs) and seven encouraged FSIs for deposit takers with a quarterly frequency. The CBN reports data on some key series and indicators of the Financial Access Survey (FAS), including the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the UN to monitor Target 8.10 of the Sustainable Development Goals (SDGs).

External Sector Statistics. Since September 2013, the BOP statistics follow the concepts and definitions set out in the sixth edition of the Balance of Payments Manual (BPM6), within the limits set by the availability of information sources. Resident institutional units are defined in conformity with BPM6’s concepts of economic territory, residency, and center of economic interest. However, coverage of the private sector is incomplete for the current and financial accounts. The November 2019 TA mission corroborated that the CBN is in the process of revising the transactions and positions of FDI and reinvested earnings from private financial and non-financial companies with the information available. In addition, the series of manufacturing services are being revised historically applying a new methodology. However, the inclusion of these revisions into ESS may take longer than anticipated being the target date late 2020. Looking forward, the central bank also needs to cross check enterprise-by-enterprise trade flows, FDI and external debt to assess any discrepancies between merchandise trade and financial associated flows. These efforts will help to address in part the large errors and omissions in the balance of payments which hinder the assessment of the external sustainability. Preliminary work by the November 2019 TA mission estimate that if revisions are made to the historic series, the average decrease of errors and omission in the BOP during the 2012–2018 period could be around 25 percent of the current errors and omissions average of the same period.

Data Dissemination and Quality. Nicaragua participates in the enhanced General Data Dissemination System (e-GDDS) but has not yet launched a National Summary Data Page (NSDP). Data ROSC was published in December 2005.

Table 1.

Nicaragua: Table of Common Indicators Required for Surveillance

(As of December 31, 2019)

^1/Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

^2/Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

^3/Foreign banks, domestic banks, and domestic nonbank financing.

^4/The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

^5/Including currency and maturity composition.

^6/Includes external gross financial asset and liability positions vis-à-vis nonresidents.

^7/Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Irregular (I); Not Available (NA).

^8/Reflects the assessment provided in the data ROSC published on December 8, 2005 and based on the findings of the mission that took place during January 11–26, 2005 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

^9/Same as footnote 8, except referring to international standards concerning source data, assessment and validation of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

Table 1.

Nicaragua: Table of Common Indicators Required for Surveillance

(As of December 31, 2019)

	Date of Latest Observation	Date Received	Frequency of Data7	Frequency of Reporting7	Frequency of Publication7	Memo Items:
						Data Quality-Methodological Soundness8	Data Quality – Accuracy and Reliability9
Exchange Rates	08/31/2019	09/20/2019	M	M	D
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1	10/31/2019	11/26/2019	M	M	M
Reserve/Base Money	10/31/2019	11/26/2019	M	M	M
Broad Money	09/30/2019	11/27/2019	M	M	M	O, LO, LO, LO	LO, O, LO, LO, LO
Central Bank Balance Sheet	10/31/2019	11/26/2019	M	M	M
Consolidated Balance Sheet of the Banking System	09/30/2019	11/27/2019	M	M	M
Interest Rates2	8/31/2019	11/20/2019	M	M	M
Consumer Price Index	Feb. 2019	3/29/2019	M	M	M	O, LO, LO, LO	LO, LO, LO, O, LO
Revenue, Expenditure, Balance and Composition of Financing3 – General Government4	Dec. 2016	3/8/2017	M	M	M	LO, LNO, LNO, LO	LO, LO, LO, LO
Revenue, Expenditure, Balance and Composition of Financing3– Central Government	Dec. 2016	3/8/2017	M	M	M		O, O, O, O, O
Stocks of Central Government and Central Government-Guaranteed
Debt5	Q1 2017	3/3/2017	Q	Q	Q
External Current Account Balance	Q1 2019	7/26/2019	Q	Q	Q	LO, LO, LO, LNO	LO, LO, LO, LO, LNO
Exports and Imports of Goods and Services	Q1 2019	7/26/2019	Q	Q	Q	LO, LO, LO, LNO	LO, LO, LO, LO, LNO
GDP/GNP	2018	12/31/2019	A	A	Q	O, O, O, LO	LO, O, LO, O, LNO
Gross External Debt	Q4 2016	4/7/2017	M	M	M
International Investment Position6	Q1 2019	07/26/2019	Q	Q	Q

^1/Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

^2/Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

^3/Foreign banks, domestic banks, and domestic nonbank financing.

^4/The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

^5/Including currency and maturity composition.

^6/Includes external gross financial asset and liability positions vis-à-vis nonresidents.

^7/Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Irregular (I); Not Available (NA).

^8/Reflects the assessment provided in the data ROSC published on December 8, 2005 and based on the findings of the mission that took place during January 11–26, 2005 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

^9/Same as footnote 8, except referring to international standards concerning source data, assessment and validation of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

View Table

Table 1.

Nicaragua: Table of Common Indicators Required for Surveillance

(As of December 31, 2019)

	Date of Latest Observation	Date Received	Frequency of Data7	Frequency of Reporting7	Frequency of Publication7	Memo Items:
						Data Quality-Methodological Soundness8	Data Quality – Accuracy and Reliability9
Exchange Rates	08/31/2019	09/20/2019	M	M	D
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1	10/31/2019	11/26/2019	M	M	M
Reserve/Base Money	10/31/2019	11/26/2019	M	M	M
Broad Money	09/30/2019	11/27/2019	M	M	M	O, LO, LO, LO	LO, O, LO, LO, LO
Central Bank Balance Sheet	10/31/2019	11/26/2019	M	M	M
Consolidated Balance Sheet of the Banking System	09/30/2019	11/27/2019	M	M	M
Interest Rates2	8/31/2019	11/20/2019	M	M	M
Consumer Price Index	Feb. 2019	3/29/2019	M	M	M	O, LO, LO, LO	LO, LO, LO, O, LO
Revenue, Expenditure, Balance and Composition of Financing3 – General Government4	Dec. 2016	3/8/2017	M	M	M	LO, LNO, LNO, LO	LO, LO, LO, LO
Revenue, Expenditure, Balance and Composition of Financing3– Central Government	Dec. 2016	3/8/2017	M	M	M		O, O, O, O, O
Stocks of Central Government and Central Government-Guaranteed
Debt5	Q1 2017	3/3/2017	Q	Q	Q
External Current Account Balance	Q1 2019	7/26/2019	Q	Q	Q	LO, LO, LO, LNO	LO, LO, LO, LO, LNO
Exports and Imports of Goods and Services	Q1 2019	7/26/2019	Q	Q	Q	LO, LO, LO, LNO	LO, LO, LO, LO, LNO
GDP/GNP	2018	12/31/2019	A	A	Q	O, O, O, LO	LO, O, LO, O, LNO
Gross External Debt	Q4 2016	4/7/2017	M	M	M
International Investment Position6	Q1 2019	07/26/2019	Q	Q	Q

^1/Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

^2/Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

^3/Foreign banks, domestic banks, and domestic nonbank financing.

^4/The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

^5/Including currency and maturity composition.

^6/Includes external gross financial asset and liability positions vis-à-vis nonresidents.

^7/Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Irregular (I); Not Available (NA).

^8/Reflects the assessment provided in the data ROSC published on December 8, 2005 and based on the findings of the mission that took place during January 11–26, 2005 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

^9/Same as footnote 8, except referring to international standards concerning source data, assessment and validation of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.