IMF sees Nicaragua economic growth cooling as pace of remittances fall

Nicaragua's economy will likely grow at around 4% this year, similar to its expected 2024 expansion, due to prudent macro-economic polices as well as "high" remittances, according to a Friday report from the International Monetary Fund.

The Central American economy grew by 4.6% in 2023.

But the board report from the international lender expects economic expansion to cool in the medium-term, at around 3.5%, due to the likelihood of slowing remittances from Nicaragua's large migrant diaspora, which is heavily concentrated in the United States.