Monday, June 5, 2023

The Central Bank report reports that foreign cooperation is decreasing and loans are increasing

The Central Bank of Nicaragua (BCN) has published the Official External Cooperation Report for 2022, which has decreased by more than 34% and almost 90% by loan, that is, it comes to debt.

BCN said that “the flow of this cooperation was 958.3 million dollars, of which 75.5 percent corresponded to cooperation in the public sector (US$723.1 million) and 24.5 percent to private cooperation (US$235.2 million).

The negative reason is that in 2022, official foreign cooperation will decrease by 34.3 percent (-US$500.0 million) compared to 2021 (US$ 1,458.3 million), and this BCN places due to a decrease of 42.0 percent (-US$523.9 million hundred thousand) in official cooperation to the public sector, an increase of 11.3 percent in cooperation to the private sector (+US$24.0 million).

They also show that 74.3 percent of official foreign cooperation came from multilateral sources (US$711.8 million) and 25.7 percent from bilateral sources (US$246.5 million).

Read more: Texas oil rises 1.32% and closes higher for the week

Therefore, when comparing the figures with those of 2021, it is notable that multilateral cooperation has decreased by 45.7 percent (-US$599.4 million), while bilateral cooperation has increased by 676 percent (+US$99.4 million).

In terms of resources, 89.8 percent correspond to loans (US$860.6 million) and 10.2 percent to grants (US$97.7 million). Compared to 2021, loan disbursements decreased by 35.7 percent (-US$ 476.8 million) and grants decreased by 19.2 percent (-US$ 23.2 million).

CABEI leads loans

The Central Bank of Nicaragua also announced that the main sources of cooperation came from the American Central Bank for Economic Integration, CABEI (US$472.4 million), the Netherlands (US$120.5 million), the IDB (US$82.1 million), the World Bank (US$62.1 million, Germany (US$47.3 million), the United States of America (US$28.8 million) and the European Union (US$23.8 million).

As for the sectors that have received these resources from official foreign cooperation, they retain that 35.5% for electricity, gas and water (US$ 340.5 million), while 27.5% for the construction sector (US$ 263.4 million), 16.2 percent. to social services, health and education (US$15.3 million), 5.7 percent to the financial sector (US$54.9 million), 5.3 percent to public administration (US$51.1 million), 2.9 percent to the manufacturing industry (US$27.9 million hundred thousand), and 2.4 percent to agriculture, livestock, timber and fishing (US$22.9 million).

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here