Nicaragua's economy could plunge yet further

After the 4 percent of negative growth last year, Nicaragua's economy could plunge yet further in 2019, according to prestigious think tank Funides.

In its most recent report, Funides says that economic growth could plummet by between 7 and 10 percent this year unless there is a solution to the nation's political and social crisis. It adds that "US sanctions will play a key role within the dynamics of economic activity."

Funides comments: "Country risk has increased significantly during the last nine months and, if the crisis continues, it is likely that the ratings agencies will continue to downgrade Nicaragua, thus increasing financial costs and deteriorating the business climate."