LatinNews Daily - 26 April 2021

In brief: Nicaragua’s economic growth edges up

* Nicaragua’s central bank (BCN) has released its latest monthly economic activity index (Imae) which showed a 0.1% increase in January 2021 compared with the previous month and a 0.5% increase compared with January 2020. This compares with a 1.1% year-on-year contraction in December 2020 and a 5.4% year-on-year contraction in November – indicative of the impact of the coronavirus (Covid-19) pandemic. As regards a break down by sector, fishing & aquiculture registered the highest growth in January 2021 compared with the same month in 2020 (10.8%), followed by exploitation of mines and quarries (7.1%) and construction (6.5%). Meanwhile hotels & restaurants registered the highest contraction (-28.6%) followed by financial intermediation & connected services (-8.9%). Nicaragua’s GDP contracted 2% in 2020 while BCN president, Ovidio Reyes, said last month that he expected it will grow by 2.5%-3.5% this year.

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