LatinNews Daily - 28 June 2018

Nicaragua: The president of Nicaragua’s central bank (BCN) Ovidio Reyes has further lowered Nicaragua’s GDP growth forecast for the year to a range of 0.5%-1.5% as a result of the ongoing crisis which erupted mid-April, caused by the government crackdown on anti-government protesters which has resulted in 285 deaths, on the latest figures from the local human rights NGO Asociación Nicaragüense Pro Derechos Humanos (ANPDH). Reyes said that US$238m in foreign direct investment (FDI) had so far been affected by the urnest, which could rise to US$1.3bn by the end of the year. He also said that US$440m of exports had been affected while imports were down by US$465m. In general terms he put the losses to the Nicaraguan economy (previously one of the fastest growing in Central America) at US$430m so far, with the tourism, hotel and restaurant sectors particularly affected. In May Reyes had told reporters that GDP projections for 2018 had been revised down from 4.5%-5.0% to 3.0%-3.6% as a result of the crisis.

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