We expect Nicaragua's government to remain committed to macroeconomic stability, with low fiscal deficits and a favorable debt profile. The Republic of Nicaragua has low per capita income, relatively weak institutions, and monetary policy rigidities. We raised our long-term sovereign credit ratings on Nicaragua to 'B+' from 'B'. The stable outlook reflects our expectation of continued economic growth, coupled with cautious fiscal policies that will contain the country's external financing needs. On Oct. 23, 2024, S&P Global Ratings raised its long-term foreign and local currency sovereign credit ratings on the Republic of Nicaragua to 'B+' from 'B'. The outlook is stable. At the same time, we affirmed the 'B' short-term local and foreign currency sovereign credit ratings. In addition, we
