US$129 MILLION IMF LOAN.
The International Monetary Fund (IMF) has approved a three-year
US$129 million loan for Nicaragua to support the government's
economic program, the IMF said on Dec. 9. The loan was approved under
the Poverty Reduction and Growth Facility (PRGF). Nicaragua was also
granted some US$2.5 million in additional interim assistance.
"Following a sharp deterioration of economic performance in recent
years, the new government of Nicaragua has embarked on a three-year
program that addresses key economic vulnerabilities and barriers to
growth and poverty reduction," said IMF deputy managing director
Eduardo Aninat. The structural reform agenda focuses on removing
constraints to growth, increasing budget transparency, public sector
restructuring, judicial system reform, and further trade liberalization
and regional integration.