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Economic Survey of Latin America and the Caribbean 2010-2011

International Integration and Macroeconomic Policy Challenges Amid Global Economic Turmoil

image of Economic Survey of Latin America and the Caribbean 2010-2011

This publication is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). This sixty-third edition of the Economic Survey looks at the nature of the recovery from the financial global and economic crisis whose fallout spread across the region in the second half of 2008 and in 2009. It also delves into the challenges posed by highly liquid conditions in international financial markets combined with high prices for the region’s key commodities. Finally, it analyzes the situation in the countries of Latin America and the Caribbean during 2010 into the first part of 2011.

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Nicaragua

The economy grew by 4.5% in 2010, after shrinking by 1.5% in 2009, indicating that Nicaragua has recovered from the recent international financial crisis. This recovery is attributable to the rebound of exports by almost 32% (13.2% in real terms) and a slight increase in consumption (3.2% in real terms), reflecting the 3.7% growth in household consumption as a result of higher minimum wages, increased family remittances and the transfers to public sector workers using grants from the Bolivarian Republic of Venezuela.

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