The United States claims to be the largest foreign investor in Nicaragua
The United States government boasted this Friday of being the largest foreign investor in Nicaragua, with whose government, led by the Sandinista Daniel Ortega and an ally of Russia, maintains a tense relationship.
“The United States is the largest foreign investor in Nicaragua, injecting $444 million into the economy in 2021. US investment creates jobs and drives economic growth in vital sectors of the Nicaraguan economy, such as manufacturing, energy, and services. ”, reported the US embassy in Managua on its social networks.
The data cited by the United States coincides with that of the Central Bank of Nicaragua (BCN), whose president, Ovidio Reyes, described as “miraculous” the 52.7% increase in Foreign Direct Investment (FDI) in 2021 compared to 2020.
FDI from Nicaragua closed at 1,470.1 million dollars in 2021, equivalent to 10.5% of the Gross Domestic Product (GDP), according to official data from the Nicaraguan Central Bank.
The contribution of the United States to Nicaragua’s FDI was almost double that of the next country, Canada, which added 213.8 million dollars.
Russia, one of Ortega’s main allies, did not appear among the main investors in Nicaragua, a list dominated by Panama (185.2 million dollars), Mexico (167.5 million dollars), and Spain (108 million dollars). , and Costa Rica (41.8 million dollars).
Nicaragua’s economy grew by 10.3% in 2021, for the first time after three years in the red, in which GDP shrank by an average of -3.03% per year in the 2018-2020 period.
The economic growth shown by Nicaragua in 2021 was favored by increased trade, increased external demand, and international prices of primary goods, according to the Central Bank.