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International Monetary Fund
By signing the letter of intent (which must be ratified by the board of the International Monetary Fund-IMF), the economic program will conclude this next December and not on October 4th, as originally planned.
"The head of the bank said that once the agreement is ratified, the multilateral agency will disburse $36 million to Nicaragua. Nicaragua and the IMF concluded yesterday the second round of negotiations of the fourth and fifth review of the economic program, which both parties signed in October 2007".
Source: elnuevodiario.com.ni
More on this topic
September 2010
The country expects to signs a Letter of Intent related to the technical extension of the IMF's Extended Credit Facility.
Antenor Rosales, President of Nicaragua's Central Bank, added that in this week's negotiations they have discussed two letters of intent.
"The first is related to the fourth and fifth revision of the economic program and its enlargement for 2011, while the other is about a discussed two-month extension, which could be signed today", reported El Nuevo Diario on its website.
November 2010
The extension allows the immediate disbursement of $ 20 million.
The Executive Board of the International Monetary Fund (IMF) today completed the fourth and fifth review of economic developments in Nicaragua under the Credit Facility Extended (SCA) and agreed to extend the agreement until December 4th, 2011.
April 2011
IMF Executive Board Completes First Review of Honduras' Economic Program.
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Honduras' economic performance under a program that combines two different IMF credit lines, the Stand-By Arrangement (SBA) and the Stand-By Credit Facility (SCF).
September 2010
The Nicaraguan government is meeting with an IMF mission to hold discussions on a $78 million loan.
The negotiations will be held in the Nicaraguan capital, Managua, and will continue until 17 September.
El Nuevo Diario reports statements from the president of Nicaragua's central bank, Antenor Rosales: "we are determined to achieve general agreement with this mission to enable the existing credit and debt servicing program we have with the IMF to be formally recognized by the fund's directorate by November or early December".
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