October 27, 2022 |
S&P Global Ratings said it upgraded Nicaragua by one notch to B with a stable outlook, based on an economic recovery driven by "external demand thanks to rising exports" and "strong remittances sustaining domestic consumption."
Nicaragua's economic recovery follows a three–year recession from 2018 to 2020 caused by political turmoil, natural disasters and the COVID-19 pandemic that still weighs on the country's long-term growth prospects, S&P said in a report on Tuesday.
Despite having a
Rating agency bumps up the Central American country by one notch to B on rising exports and strong remittances