The agreement referred to was developed by the government and the IMF in line with the macroeconomic program for the period 2007 to 2011.
After having verified compliance with the requirements of the agreement, the IMF has decided to approve it and proceed with disbursements.
An article in Elnuevodiario.com.ni points out: "Nicaragua will get a payout of approximately $8.8 million, equivalent to 5.5 million special withdrawal rights, which will help to boost levels of gross international reserves.
Cumulative disbursements on this credit facility extended by the IMF amount to $123 million. "
Source: elnuevodiario.com.ni
More on this topic
April 2011
IMF Board Completes Sixth Review of the Expanded Credit Facility and approves release of $8.9 million
Economic performance in 2010 was satisfactory. Gross Domestic Product (GDP) grew by 4.5 percent, underpinned by a strong performance in consumption and investment; the fiscal performance (especially in tax revenues) was better than expected, and the balance of payments also strengthened.
November 2011
"Panama is still one of the fastest growing countries in the Americas."
A mission from the International Monetary Fund (IMF), led by Corinne Delechat, visited Panama from 7 to November 18 to conduct the annual Article IV Consultation (1). At the end of the discussion, Ms. Delechat issued the following statement in Panama City:
April 2010
On May, the board of the IMF could approve it and disburse $18 million, out of $35.6 pledged for 2010.
Antenor Rosales, president of the Central Bank of Nicaragua, stated that the Government successfully passed the fourth revision of its macroeconomic program with the International Monetary Fund (IMF), known as Extended Credit Facility (ECF).
September 2010
The agreement, which expires in March 2012, will enable the country to get immediate access to funds worth $196 million.
An International Monetary Fund (IMF) staff mission was in Tegucigalpa between 7 and 10 September to continue discussions on an agreement between Honduras and the IMF to support the government's economic program. At the close, the mission's chief, Mr. Przemek Gajdeczka, issued the following statement:
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