Nicaragua's economy is recovering following successive domestic and external shocks over recent years. Cautious fiscal and monetary policies have stabilized the economy and should support continued GDP growth. We raised our long-term sovereign credit ratings on Nicaragua to 'B' from 'B-'. The stable outlook reflects our expectation of continued economic recovery and fiscal prudence despite a challenging external scenario. On Oct. 25, 2022, S&P Global Ratings raised its foreign and local currency long-term sovereign credit ratings on Nicaragua to 'B' from 'B-'. The outlook is stable. We affirmed our short-term ratings on Nicaragua at 'B'. We also raised our transfer and convertibility assessment to 'B+' from 'B-'. The stable outlook reflects our view of continued economic recovery coupled with fiscal
