Nicaragua agrees with IMF to lower public spending

Nicaragua's government agreed with the International Monetary Fund to cut public spending as a step toward both financial stability and debt relief, the president of the Central American nation's Central Bank said on Feb 20.

The Central Bank's Noel Ramirez said that Nicaragua and the IMF agreed that to guarantee sound finances the nation will move to reduce government spending, though the amount would be determined in coming weeks. The spending cuts will also enable Nicaragua to begin receivin