Caribbean & Central America - November 2011 (ISSN 1741-4458)

IMF: On 21 October the International Monetary Fund (IMF) completed the seventh and final review of Nicaragua’s economic performance under its Extended Credit Facility (ECF) arrangement and the financing assurances review. This allows for the final disbursement to Nicaragua of about US$8.7m. Total disbursements so far had been about US$114.1m. The IMF approved a three-year ECF (formerly known as the Poverty Reduction and Growth Facility) of about US$111m in October 2007, which was increased by about US$10m in September 2008 to enable Nicaragua to cope with the natural disasters of 2007. In November 2010, the IMF approved an extension of the arrangement until 4 December 2011.

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