IMF Approves $111m Nicaragua Loan

The IMF has approved a loan worth about $111.3m under the Poverty Reduction and Growth Facility (PRGF) to support Nicaragua’s economic program. It will result in an immediate disbursement of approximately $18.5m. PRGF loans carry an annual interest rate of 0.5% percent and are repayable over 10 years with a 5.5–year grace period on principal payments. “Nicaragua has made important strides over the last years. Macroeconomic stability has been strengthened, vulnerabilities reduced, and poverty-reduction spending expanded, while important progress has been made with structural reforms,” says IMF deputy MD Murilo Portugal.