Thursday, 17 March 2022 02:38

CABEI analyzes regional development, COVID-19 impact and economic outlook for the coming years

Written by Evelyn Alas

The effects of the global economic recession that impacted trade, tourism and employment in 2020, as well as the robust recovery registered in 2021 and the challenges currently facing the region with the increase in international raw material prices and persistent rises in inflation rates are some of the results of the report "Central America and the Pandemic: Economic Impact of COVID-19 in 2020 and perspectives 2021-2023" presented this wednesday by the Central American Bank for Economic Integration (CABEI).

In a forum entitled "Development, Impact of COVID-19 and Economic Perspectives", held in Nicaragua, CABEI's Office of the Chief Economist explained some of the elements to be considered in the region's development agenda, including the promotion of reactivation policies in lagging sectors, continued support for the most vulnerable groups as a result of the pandemic, and support for a fiscal policy in line with the restoration of debt levels to pre-crisis GDP, among others.

"CABEI's Executive President, Dante Mossi, stated, "In light of the complex scenario being experienced in our countries as a result of the HIV/AIDS pandemic, and aware of the importance of generating and disseminating knowledge, CABEI is pleased to open this space for analysis and reflection so that the different actors in society can learn about the new challenges in the national and international economic situation.

Opening remarks were given by CABEI Director for Nicaragua, Uriel Pérez, and the main topics were presented by CABEI Governor for Nicaragua, Iván Acosta; CABEI Executive President, Dr. Dante Mossi; and President of the Banco Central de Nicaragua, Ovidio Reyes.

The forum was attended by representatives of the country's business chambers, financial sector, public sector and academics, among other key stakeholders, who were informed of the strategic actions needed to contribute to Nicaragua's balanced and sustainable development.

Since its founding, CABEI has accompanied Central American countries in their efforts to achieve new stages of economic development and better opportunities for well-being based on its Institutional Strategy 2020-2024.