IMF jittery over Nicaragua inflation

June 13, 2008

The International Monetary Fund is nervous about Nicaragua.

At a meeting Tuesday in Managua, IMF representative Luis Cubeddu expressed the financial body’s concern over inflation in the Central American country, which last year reached 16.8 percent, the highest in the region.

After Nicaragua’s Central Bank announced last week that accumulated inflation as of May 31 hit 9.43 percent, the IMF are not the only ones concerned.

Government economists, who had set a goal to keep inflation rates in the single digits this year, are also starting to worry as the accumulated rate grows nearer to the 10 percent mark.

On the other hand, despite the grim forecast, Central Bank President Antenor Rosales said all is not lost.

Read Friday’s Nica Times, an eight-page publication of The Tico Times, for more on this story.

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