LatinNews Daily - 24 January 2022

In brief: Nicaragua’s economy continues to recover

* Nicaragua’s central bank (BCN) has released its latest monthly economic activity index (Imae) for November 2021 which showed a 13.2% increase compared with November 2020, bringing the accumulated rate to 10.1%. Growth was driven by mining and quarrying (up 65.1% in November year-on-year) followed by construction (+36.3%); energy & water (+23.4%); fishing and aquiculture (+20.6%); and manufacturing (+19.6%). Sectors to register a decline include financial mediation and associated services (-4.4%); and other services (-0.3%). The latest (January 2022) forecast from the United Nations Economic Commission for Latin America and the Caribbean (Eclac) estimates that Nicaragua’s GDP grew by 7.4% in 2021, above the 6.7% average for Central America, and predicted 3.0% GDP growth this year, below the 4.5% average for the sub-region.

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