We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. All five protected areas within the project were demarcated, labeled and geo-referenced. 19 Nov 2020 Originally published 18 Nov 2020. Nicaragua is shrinking. In addition, statistics management capacity in preparation for the Population and Housing Census improved: Nicaragua now has an updated and redesigned digital cartography for statistical operations in all the municipalities. This page has economic forecasts for Nicaragua including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Nicaragua economy. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Doctors, journalists, students and farmers are among more than 60,000 Nicaraguans who have fled the country in fear of their lives since anti-Government demonstrations began last April, UNHCR, the UN Refugee Agency, said on Tuesday. Hurricanes Iota and Eta struck Nicaragua in November, 2020, with catastrophic force, causing widespread damage, loss of life and aggravating the risks of the COVID-19 transmission. 2. The COVID-19 (Coronavirus) pandemic plus the violence that has prevailed in the last years, job losses, a fall in consumer and business confidence, and a decline in labor intensive sectors such as construction, commerce and tourism have taken a social and economic toll, further halting progress achieved in poverty reduction since 2005. Yet Americans were more downbeat about the state of the economy during the Great Recession than they are now. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around 9 trillion dollars, greater than the economies of Japan and Germany, combined. And freedom of expression had also been restricted in various ways, from the closure of independent media outlets and the retention of their property and equipment, to the imprisonment of journalists for several months. Progress can also be seen in digital innovation centers for the cities of Bonanza, Siuna, León, and Granada. As of October 2020, the World Bank portfolio in Nicaragua includes 6 projects, totaling US$328.90 million in net commitments, in the areas of (1) roads, telecommunications and land administration; (2) education and health; (3) and catastrophic insurance. 2 Format Situation Report Source. Through the Project for the Adaptation of Nicaragua's Water Supplies to Climate Change (PACCAS), between 2012 and 2018 guaranteed access to water, protection of water resources, and mitigation of climate impacts in several communities vulnerable to the effects of climate change in rural was pursued. Environmental and Social Policies for Projects, International Development Association (IDA), Country Partnership Strategy (CPF) for 2018-2022, Multilateral Investment Guarantee Agency (MIGA), Second Educational Sector Support Project, Project “Alliance for the Quality of Education” (ACE), Nicaragua Catastrophe Risk Insurance Project, Sustainable Rural Water Supply and Sanitation (WSS) Sector Project, Second Land Administration Project (PRODEP II), Nicaragua Caribbean Coast Food Security Project, Caribbean Regional Communications Infrastructure Program - Nicaragua, Public Financial Management Modernization Project, Strengthening the Public Health Care System, Integrated Public Provision of Health Care Services, the Project for the Adaptation of Nicaragua's Water Supplies to Climate Change, Country partnership strategy for the period FY13-FY17. “Serious political and social crises in the country have prompted Nicaraguan students, human rights defenders, journalists and farmers to flee their country at an average rate of 4,000 people every month”, UNHCR spokesperson Shabia Mantoo told journalist on Tuesday at the Palais des Nations in Geneva. The protests in Nicaragua have been waning as a result of the demonstrators’ exhaustion and the brutal crackdown by the government of Daniel Ortega, using police and irregular forces. All activities are carried out respecting and strengthening the multicultural nature of Nicaragua: Relevant activity documents and school material have been translated into indigenous languages and participatory decision-making mechanisms have been put in place. Nicaragua Economic Outlook November 10, 2020 The economy contracted 7.9% in Q2 according to recent data, despite the lack of a domestic lockdown. The crisis started rather unexpectedly when pro-government groups violently crushed a small demonstration against reforms to Nicaragua's pension system announced on 18 April. 10/27/2020 From 2017 to date, the Caribbean Regional Communications Infrastructure Program - Nicaragua (CARCIP) has promoted access to 3G cellular mobile phone services, including broadband Internet access at speeds above 2Mbps in 16 communities of the Caribbean Coast and Río San Juan, benefiting 39,518 inhabitants. Enabling private investment for job creation. The World Bank Group stands ready to help Nicaragua meet the most pressing needs of its people, especially the poorest and most vulnerable, who have been disproportionately impacted by the natural disasters and the pandemic. The protests in Nicaragua have been waning as a result of the demonstrators’ exhaustion and the brutal crackdown by the government of Daniel Ortega, using police and irregular forces. This site uses cookies to optimize functionality and give you the best possible experience. From 2014 to 2019, 29,907 beneficiaries gained access to improved water supply and 13,980 people to safe sanitation services. The government of Nicaragua renewed its earthquake, tropical cyclone and excess rainfall policies for 2019/20. It also seeks landholding, renewable energy and infrastructure improvement, increased productivity, exports diversification, and trade facilitation. In April 2020, USAID was taken over by de facto director John Barsa, a hardline Republican businessman, Trump ally, and son of anti-communist Cuban immigrants. Nicaragua economic growth for 2017 was $13.79B, a 3.76% increase from 2016. Molotov cocktails and state-led violence: How Nicaragua is slipping into Venezuela-crisis territory Published Fri, Jun 15 2018 6:55 AM EDT Updated Fri, … The Project also supported the implementation of social programs to spread the benefits of proper hygiene and practices for water conservation, through a range of social learning techniques, including community theaters. The economic crisis, said the economist, can be seen in the decline in all economic, academic and cultural activity, capital flight and migration. For more information, check out Global Finance's Nicaragua Economic Report data page. This is a summary of what was said by UNHCR spokesperson Shabia Mantoo – to whom quoted text may be attributed – at today's press briefing at the Palais des Nations in Geneva. Asia 15:24, 31-Oct-2020 Economic crisis looms amid pandemic and protests in Thailand. By Dusita Saokaew Share . On average, the project achieved 78.25% increase of agricultural yields, while more than 8000 protagonists adopted one or more agricultural and fishery technologies promoted by the project. The World Bank Group works in every major area of development. With no political resolution in sight refugee outflows expected to continue. 95% of the municipalities report compliance with these plans, over 50% of what was proposed. In addition, with the aim of strengthening digital human talent and digital innovation, the project awarded 1,747 scholarships in English, 910 scholarships in soft skills and 52 scholarships in technical skills related to the information technology industry. The COVID-19 (Coronavirus) pandemic plus the violence that has prevailed in the last years have contributed to a 2020 growth forecast of -5.9 percent further halting progress achieved in poverty reduction since 2005. It was the sharpest contraction in over a year, as the coronavirus pandemic hit the economy. Neither the inertia of the economic crisis, nor external pressure alone, will force the dictatorship to negotiate a political solution. Two years of political and social crisis in Nicaragua force more than 100,000 to flee. A total of 450 inhabitants of these communities benefited from the digital literacy campaign which was carried out in Spanish, Mayangna and Miskito. Copied. It highlights working with young people, women, Indigenous populations, people of African descent, and in territories such as the dry belt and the Caribbean regions. Since the initial violent clampdown following popular protests in 2018, most Nicaraguans have fled to neighboring Costa Rica, which currently hosts 77,000 refugees and asylum seekers – two-thirds of those who have fled so far. Faced with sharply lower revenues and a severe tightening in available financing, including on account of sanctions, the government was forced to cut spending and adopt a procyclical tax … A participation of 6,702 beneficiaries was achieved, of which 64 % are females. ♦ Receive daily updates directly in your inbox -. Anti-government demonstrators flash a three-finger salute of defiance during a protest rally at the Silom business district in Bangkok, Thailand, October 29, 2020. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Since April 2018, political persecution has pushed tens of thousands of Nicaraguans to flee to neighbouring countries, two-thirds of whom currently shelter in Costa Rica. For example, in the Corn Islands, off the Caribbean coast of Nicaragua, the project resulted in the delimitation of 26 wetlands, which cover an area of protection of 150 ha and represent water reservoirs for the lives of 8,000 people living in the island; 26.6 ha of wetlands were reforested; two environmental and climate monitoring stations are up and running, which have strengthened the monitoring of climate and sea level behavior on the islands; and an environmental education and awareness plan was implemented to keeping the wetlands clean, protected and preserved as sources of life. The Building Census was carried out in 2017 and progress was made in the development of a technological platform for the collection and processing of Census data. Liberal media outlets are aiding a US economic war on Nicaragua’s Sandinista government, calling for a boycott of “conflict beef” based on deeply flawed opposition accusations. Find out what the Bank Group's branches are doing in Nicaragua, Global data and statistics, research and publications, and topics in poverty and development, *Amounts include IBRD and IDA commitments. The sovereign insurance offered by CCRIF Segregated Portfolio Company (SPC) is currently one of the main disaster risk financing instruments that Nicaragua has in place to provide short term liquidity in the case of a disaster, enabling the country to respond to the disaster until other funding can be mobilized. Under the insurance policies, CCRIF SPC has made two payouts to Nicaragua, including one on June 23, 2016 following a magnitude 6.1 earthquake; and another on December 2016 following Hurricane Otto. “However, since the end of February 2019, when the Government and the Civic Alliance for Justice and Democracy resumed their dialogue, the number of violations against life and personal integrity has decreased, proof that dialogue is a possible and peaceful way to overcome the crisis”. Despite global economic turbulence, Nicaragua has stood out for maintaining growth levels above the average for Latin America and the Caribbean. And with no resolution in sight, the agency expects these numbers to grow. On December 8th  2020, the World Bank approved a US$20 million credit from the International Development Association (IDA), the World Bank’s fund for the poorest, to support Nicaragua's readiness to respond to the COVID-19 pandemic. Nicaragua economic growth for 2016 was $13.29B, a 4.15% increase from 2015. There have been important achievements, such as the implementation of a Teacher Mentoring Program for primary and secondary school teachers, including the training of more than 500 school directors and deputy-directors, and the effective mentoring of more than 1250 teachers; in-service training for primary and preschool teachers with more than 9000 preschool teachers participating. Strengthening public institutions to improve disaster and external economic crises risk management. Nicaragua is still one of Latin America’s least developed countries, where access to basic services is a daily challenge. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Credits in Nicaragua: Crisis on the Rise Thursday, May 21, 2020 Given the political and economic crisis affecting the country since April 2018, a scenario that has combined with the crisis of covid-19, the loan portfolio increased from $5,172 million in March 2018 to $3,404 million at the end of April 2020. An uncertain political climate and a lack of confidence in the rule of law will weigh on Nicaragua's economic prospects, keeping real GDP below its 2017-peak well into the medium term. Nicaragua’s on-going human rights crisis can be resolved peacefully through dialogue, the UN’s top rights official said on Tuesday, before expressing concern about allegations of torture and murder of protesters involved in last year’s anti-Government demonstrations. According to the latest forecasts, for 2020 growth is expected to fall to -5.9 percent, and would recover slowly to 1.1 percent by 2021. The dynamic is participatory and encourages municipalities to prepare health improvement plans. The Nicaragua CPF is based on three vital objectives: 1. Since 2015 and 2018, respectively, through the projects Strengthening the Public Health Care System  and Integrated Public Provision of Health Care Services, the World Bank supports the institutionalization of plans to improve the quality of health care in Nicaragua and the prevention of chronic diseases in the first level of care. The project will be carried out in collaboration with the United Nations Office for Project Services (UNOPS), and strict fiduciary … As the world faces a historic challenge, the government of President Daniel Ortega is flagrantly ignoring the recommendations of international human rights organizations regarding the COVID-19 pandemic, putting at risk the health and lives of thousands of people in Nicaragua, said Amnesty International today. All suggestions for corrections of any errors about Nicaragua Economy 2020 should be addressed to the CIA or the source cited on each page. Find Out. The economic future of Nicaragua does not look brighter after the Funides foundation reported that a contraction of between 7.3% and 10.9% of the country's GDP is expected during 2019, which accentuates the economic crisis and gives rise to name this country "the other Venezuela of Latin America", as the economic newspaper Portafolio recently did. https://t.co/ZtZCNcyeJq pic.twitter.com/f4lJpWwK9q. The work program for 2018-2022 comprises interest-free credits and donations from the International Development Association (IDA) for investment projects, South-South exchanges, technical assistance, and analytical work. Finally, the project enabled two open innovation centers in the Caribbean Coast (Puerto Cabezas and Bluefields) where young university students, with the help of mentors and following an open innovation methodology, developed 9 applications. The project not only financed civil works but also helped Nicaragua strengthen municipal and community capacities for the administration, operation and sustainable maintenance of water and sanitation systems in rural areas. “Between August 2018 and July 2019, human rights violations continued to occur in Nicaragua”, Ms. Bachelet told the Human Rights Council. The project will be carried out in collaboration with the United Nations Office for Project Services (UNOPS), and strict fiduciary requirements are in place to guarantee that all resources are used to benefit the people of Nicaragua. Nicaragua - Economic Forecasts - 2020-2022 Outlook. ... CFR breaks down 2020… Its overall score has decreased by 0.5 point due to a drop in the fiscal health score. This helps to reduce the time needed for people to be recognized as refugees and granted protection. Nicaragua’s economic freedom score is 57.2, making its economy the 115th freest in the 2020 Index. 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