IMF to Close its Nicaragua Office

Posted by Adam McGeehan on Apr 11, 2016 1:45:49 PM

We have been talking for years about how strong Nicaragua’s economy is. Well, here is proof positive of that strength: The International Monetary Fund (IMF) has officially made plans to close its office in Nicaragua. They cite Nicaragua’s strong economic growth, which has averaged 4% GDP growth annually over the past decade, as their reasoning for closing their Nicaragua office. The office will be closed officially in August of this year.

The IMF opened up their Nicaragua office in 1995. At the time, Nicaragua was one of the most heavily indebted countries in the entire world. They had spent years accruing debt to pay for past military conflicts, which resulted in them falling into a deep pit of international debt.

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In 2005, the IMF included Nicaragua in its Heavily Indebted Poor Nations Initiative. By 2011, Nicaragua had made serious progress in reducing its foreign debt, and the IMF exited Nicaragua from the Heavily Indebted Poor Nations Initiative at that time. Since 2011, Nicaragua has been able to show strong economic growth and for this reason the IMF has decided to close their office in Nicaragua.

On the ground, we here at Gran Pacifica have certainly noticed much growth and improvements in Nicaragua. The roads are always being built up and improved, and in fact much of the road from Managua to Gran Pacifica has been repaved in the past year. The final few kilometers are expected to be paved and completed very soon.

Other areas of life in Nicaragua are improving as well. Telecommunications have developed vastly, with cell phone coverage increasing, and 3G and even 4G networks being made available in Nicaragua in recent years. If one takes a trip around Managua, it is easy to see the vast amounts of construction happening. New offices and other buildings are going up all the time, and at a fantastic rate. This makes right now the ideal time for investing in Nicaragua.

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Nicaragua is a premiere destination for investment. Investing in Nicaragua means investing in a country going through strong and stable growth. The IMF noted that over the past 10 years, Nicaragua has been able to maintain growth rates of over 4%. The only exception was 2009, when the country, along with the rest of the world, was slowed down by the Great Recession. However, the IMF notes that Nicaragua recovered from the Great Recession faster than most countries in the world, and especially recovered faster than most Western and industrialized nations.

If you are interested in investing in Nicaragua, Gran Pacifica Beach and Golf Resort is an excellent place to make that investment. Tourism is one of the fastest growing industries in Nicaragua, being a major driver of the country’s economic growth. In addition, real estate prices in Nicaragua are growing. This makes an investment in Gran Pacifica an ideal one, as you will be investing your money in a growing country, in one of the industries that is leading the growth in that country.

Gran Pacifica is always growing, and the IMF’s decision to close their Nicaragua office is proof positive that Nicaragua is growing as well. Why not start investing in Nicaragua, and start growing with us?

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Adam McGeehan

Written by Adam McGeehan

Adam is a recent graduate of Allegheny College. There he majored in Economics with a minor in Spanish. He has always been interested in traveling abroad and is thrilled to have recently taken up residence in Managua, Nicaragua to work as an intern for ECI Development. He is excited to take in all of the culture of this wondrous nation.

Topics: Investing in Nicaragua