IMF approves Nicaragua in seventh revision

The International Monetary Fund (IMF) has reportedly approved Nicaragua’s extended credit program in the seventh round of revisions, according to Central Bank President Antenor Rosales, as reported by Sandinista media.

Rosales said Nicaragua’s compliance with the IMF accord demonstrates that the country has been able to maintain macroeconomic stability and fiscal responsibility in times of international economic uncertainty. At the same time, he said, Nicaragua has developed a model that will allow the country to reduce its poverty and include more sectors of society in economic production.

Approval of the IMF program means Nicaragua will be eligible for an additional $8.8 million in multilateral funding to boost international reserves, according to press reports.

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