IMF jittery over Nicaragua inflation

June 13, 2008

The International Monetary Fund is nervous about Nicaragua.

At a meeting Tuesday in Managua, IMF representative Luis Cubeddu expressed the financial body’s concern over inflation in the Central American country, which last year reached 16.8 percent, the highest in the region.

After Nicaragua’s Central Bank announced last week that accumulated inflation as of May 31 hit 9.43 percent, the IMF are not the only ones concerned.

Government economists, who had set a goal to keep inflation rates in the single digits this year, are also starting to worry as the accumulated rate grows nearer to the 10 percent mark.

On the other hand, despite the grim forecast, Central Bank President Antenor Rosales said all is not lost.

Read Friday’s Nica Times, an eight-page publication of The Tico Times, for more on this story.

Facebook Comments

You may be interested

30 protesters released from prison in Nicaragua
News
327 views
News
327 views

30 protesters released from prison in Nicaragua

AFP / The Tico Times - October 17, 2018

Nicaraguan President Daniel Ortega freed 30 political opponents on Monday, an action greeted with relief by human rights organizations. They…

La Sele continues to struggle, falls to Colombia, 3-1
La Sele
402 views
La Sele
402 views

La Sele continues to struggle, falls to Colombia, 3-1

Alejandro Zúñiga - October 17, 2018

One of La Sele’s shining moments happened right there, at the Red Bull Arena, a little over a year ago.…

Jaguars: a symbol of Costa Rica
Pic of the Day
762 views
Pic of the Day
762 views

Jaguars: a symbol of Costa Rica

Alissa Grosskopf - October 17, 2018

Jaguars represent an important part of Latin America's indigenous heritage. For its strength, grace and mysterious aura, it is a…