Banco Central De Nicaragua (Nicaragua)

The Banco Central de Nicaragua, located in Managua, is a national bank that was established in September 1960. It was created based on the article 148, numeral 19, of the Constitution of the Republic of Nicaragua in 1950, and by Legislative Decree No. 525, "Organic Law of the Central Bank of Nicaragua." The bank is currently governed by Law No. 732, "Organic Law of the Central Bank of Nicaragua," which was published with all its consolidated modifications in the Official Gazette of the Republic of Nicaragua on August 27, 2018. The Banco Central de Nicaragua has various functions, including acting as the fiscal agent and payer of the Nicaraguan government, as well as being the custodian of its funds. It is responsible for implementing the national monetary plan and issuing banknotes. Additionally, the bank has taken on the role of a commercial, agricultural, and foreign trade bank. While the Banco Central de Nicaragua was legally founded in September 1960, it began its operations in January 1961, taking over the monetary issuance that was previously handled by the Banco Nacional de Nicaragua. During the 1960s, the bank also assumed development banking functions, providing financing for productive, agricultural, industrial, and commercial activities. Furthermore, the Banco Central de Nicaragua is responsible for disseminating the country's main macroeconomic statistics.