Macroeconomic Forecast Nicaragua

June 2007 | Macroeconomic Forecasts

BMI View: The current account was in deficit to the tune of US$161.5mn in Q107, which represented the smallest quarterly shortfall since Q105. The key was a sharp rise in exports this year of 22.5% y-o-y to US$301.5mn in the first quarter, which, according to the national export agency, was due in part to higher prices for key primary goods, such as coffee and sugar. Disconcertingly, however, remittances fell by US$3mn from Q406 to US$163.9mn, an indication that the Q107 slowdown in the US may be hurting the pocketbooks of Nicaraguan migrant workers - and which, by extension, poses a

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