Central Bank of Nicaragua
in Central America
Wednesday, May 16, 2012
Nicaraguan industry provides the greatest added value to its products and is the largest FDI recipient ($226.4 million in manufacturing, $114.3 million in mining, and $217.1 million in energy).
Sugar producers now not only process sugar, but they also generate energy and biofuel. Mining has diversified and dairy companies are making more investments in technology in various products.
Wednesday, May 9, 2012
A new prosperity acquired by Nicaragua's economy, especially in infrastructure, is being reflected in extractive activities related to construction.
The boom experienced by the construction sector has led to the extraction of materials such as crushed stone, sand and other things for the manufacture of blocks, pavements, cement and other products required by public and private works.
Tuesday, May 8, 2012
At least 20% of Nicaragua's economic growth in recent years is the result of economic and commercial support from Venezuela.
A study by the Nicaraguan Foundation for Economic and Social Development (FUNIDES) shows that in 2010, when the economy was growing at 4.5 percent, the contribution of the relationship with Venezuela was 1.1 percentage point. In 2011, when growth was 4.7%, the Venezuelan contribution to the figure was 0.9%.
Wednesday, April 11, 2012
In 2011, remittances reached $1.053 billion according to the IDB, accounting for 18% of GDP, 20% coming from Costa Rica, and the rest mainly from the U.S.
The figure comes from a study entitled ‘Remittances South-South - The Importance of the Costa Rica-Nicaragua Corridor’, by the Multilateral Investment Fund of the Inter-American Development Bank (MIF-IDB).
Monday, April 9, 2012
A record amount of $1.938 billion in gross international reserves has been recorded in the country, a reflection of the stability and economic growth in recent years.
Mario Arana, former president of the Central Bank of Nicaragua (BCN) notes that the policy of fiscal discipline that has been maintained, has allowed the reserves to accumulate, which provide an optimistic outlook on any external shocks generated by the current problems of the industrialized economies.
Friday, March 9, 2012
The inter-annual inflation rate is 1.59% higher than February 2011.
The Central Bank of Nicaragua announced that the accumulated inflation rate in the first two months of the year amounted to 1.36% and inter-annual inflation stood at 8.81%, 1.59 percentage points higher than in February 2011.
Thursday, February 16, 2012
Business leaders are hoping that the Central Bank of Nicaragua will continue to maintain its independence from the central government after the departure of Antenor Rosales.
COSEP president, Jose Adan Aguerri regretted the resignation of Antenor Rosales as head of the Central Bank and hopes that the Government aspires to appoint officials who are not "puppets". Aguerri, hopes the new president of this organization, Alberto Guevara, will maintain independence of criteria.
Wednesday, February 15, 2012
A week after Antenor Rosales declared that international reserves "are not to be managed according to someone’s whims and preferences", he has been dismissed by President Ortega.
Alberto Guevara, hitherto the Minister of Finance, is the new Chairman of the Board of the Central Bank of Nicaragua. Guevara said that the economic policy of Daniel Ortega’s government will not change.
Tuesday, February 7, 2012
Farmers are optimistic and estimate that in 2012, growth in the sector, which is Nicaragua’s main export, will be at least 8%.
The reasons for this optimism are the high international prices of meat and the decision by the United States and Argentina to dedicate land that was used for livestock to plant grain instead.
Tuesday, January 17, 2012
In the past four years credit card issuance has reduced by 42.4%.
Credit restrictions applied by banks is one of the reasons for the reduction. According to Juan Carlos Arguello, president of the Association of Private Banks of Nicaragua (Asobanp), the downward trend will be maintained.
Tuesday, January 10, 2012
Inflation in December recorded a monthly variation of 1,21% and 7.95% for the year.
In 2010, according to official Central Bank of Nicaragua, inflation reached 9.23%, the highest in Central America.
Tuesday, November 29, 2011
The Nicaraguan government is studying the establishment of new fees that include an increase in generation costs and the amount of subsidies to be applied.
The high price of oil and other factors have increased the average cost of electricity generation in Nicaragua by 51%, of which only 7% has been passed on to the consumer with the remaining 44% being assumed by grants implemented by the government using ALBA funds.
Monday, November 21, 2011
The July-September quarter has proved to be the period with the lowest export growth so far in 2011.
A report by the Central Bank of Nicaragua (BCN in Spanish) notes, "that although the overall export performance continues to show good results, they are supported by high prices in international markets."
Tuesday, November 15, 2011
In the first six months of the year, a 22.3% increase in tourists’ daily spending was reported, as compared to the same period in 2010.
According to the Nicaraguan Institute of Tourism, visitors who spend most are those entering by air, with a daily average of $82.5.
Tuesday, November 1, 2011
With the exception of the financial sector, which shows a negative trend, the country's monthly index of economic activity confirms the good results, especially for the trade, industry and farming sectors.
Nicaragua's Monthly Index of Economic Activity (IMAE) for August, just published by the country's central bank (BCN in Spanish) has recorded growth of 7.6%.
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