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LatinNews Regional Monitor: Caribbean & Central America - 26 May 2017

NICARAGUA: Ortega defiant over IMF call for reform

The International Monetary Fund (IMF) paid a recent visit to Managua in the context of the 2017 Article IV consultation. While upbeat about GDP growth and other indicators, the IMF nonetheless flagged up concern about the sustainability of the social security institute (INSS), calling on the Frente Sandinista de Liberación Nacional (FSLN) government led by President Daniel Ortega to make changes. A statement recently issued by the INSS indicating that “the age of retirement and weekly contributions necessary to obtain a pension in the INSS will not be changed” suggest these concerns – which have been echoed by other institutions such as the local economic and social development think tank, Funides – have fallen on deaf ears.

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