CABEI analyzes regional development, COVID-19 impact and economic outlook for the coming years

Managua, March 16th, 2021.- The effects of the global economic recession that impacted trade, tourism and employment in 2020, as well as the robust recovery registered in 2021 and the challenges currently facing the region with the increase in international commodity prices and persistent rises in inflation rates are some of the results of the “Central America and the Pandemic: Economic Impact of COVID-19 in 2020 and 2021-2023 Prospects”report presented on Wednesday by the Central American Bank for Economic Integration (CABEI).

In a forum entitled "Development, COVID-19 Impact and Economic Outlook", held in Nicaragua, CABEI's Chief Economist's Office explained some of the elements to be considered in the region's development agenda, including the promotion of reactivation policies in lagging sectors, continued support for the most vulnerable groups as a result of the pandemic, and support for a fiscal policy in line with the restoration of debt levels to pre-crisis GDP, among others.

"Under a very complex scenario that is being experienced in our countries due to the COVID-19 pandemic, and aware of the importance of the generation and dissemination of knowledge, as CABEI, we are pleased to open this space for analysis and reflection so that the different actors in society can learn first-hand about the new challenges facing the national and international economic situation", said CABEI Executive President, Dante Mossi.

Opening remarks were given by CABEI Director for Nicaragua, Uriel Pérez, and the main topics were presented by CABEI Governor for Nicaragua, Iván Acosta; CABEI Executive President, Dr. Dante Mossi; and President of the Central Bank of Nicaragua, Ovidio Reyes.

The forum was attended by representatives of the country's business chambers, financial sector, public sector and academia, among other key stakeholders, who were informed of the strategic actions needed to contribute to Nicaragua's balanced and sustainable development.

Since its founding, CABEI has accompanied Central American countries in their efforts to reach new stages of economic development and better opportunities for well-being based on its 2020-2024 Institutional Strategy.