The International Monetary Fund has approved an extension of Nicaragua’s extended credit facility through Dec. 4, 2011. The decision follows the completion of IMF’s fourth and fifth reviews of the country’s economic performance under the credit facility. IMF noted that the Nicaraguan economy is gradually recovering from the effects of the recent global financial crisis.

    About the author

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.