The United States claims to be the largest foreign investor in Nicaragua

The United States claims to be the largest foreign investor in Nicaragua

The US government on Friday bragged about being the largest foreign investor in Nicaragua, which with its government, led by Sandinista Daniel Ortega and an ally of Russia, maintains a strained relationship.

“The United States is the largest foreign investor in Nicaragua, pumping $444 million into the economy in 2021. American investment creates jobs and drives economic growth in critical sectors of the Nicaraguan economy, such as manufacturing, energy, and services.” , the United States reported. Embassy in Managua on its social networks.

The data cited by the US matches that of the Central Bank of Nicaragua (BCN), whose president, Ovidio Reyes, described the 52.7% increase in foreign direct investment (FDI) in 2021 compared to 2020 as a “miracle”.

Foreign direct investment from Nicaragua closed at $1470.1 million in 2021, equivalent to 10.5% of GDP, according to official data from the Central Bank of Nicaragua.

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The US contribution to Nicaragua’s FDI was double that of the next country, Canada, which added $213.8 million.

Russia, one of Ortega’s main allies, did not appear among the main investors in Nicaragua, a list dominated by Panama ($185.2 million), Mexico ($167.5 million), Spain ($108 million) and Costa Rica ($41.8 million). dollar).

Nicaragua’s economy grew by 10.3% in 2021, for the first time after three years in the red, as GDP contracted at a rate of -3.03% annually in the period 2018-2020.

The economic growth shown by Nicaragua in 2021 was favored by increased trade, increased external demand and international prices for primary commodities, according to the central bank.

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