This review of public expenditures onSocial Protection (SP) in Nicaragua is based on theanalytical framework of Social Risk Management (SRM)developed by the World Bank. The concept of managing socialrisk comes from the notion that certain groups in societyare vulnerable to unexpected shocks which threaten theirlivelihood and/or survival. Social protection focuses on thepoor since they are more vulnerable to the risks andnormally do not have the instruments to handle these risks.This prevents the poor from taking more risky activitiesthat usually yield higher returns and that could help themovercome gradually their poverty situation. Social riskmanagement involves policies and programs aimed at reducingkey risks, breaking inter-generational cycle of poverty andvulnerability. Risk management consists in the choice ofappropriate risk prevention, mitigation and copingstrategies to minimize the adverse impact of social risks.Social protection under SRM is defined as publicinterventions to assist individuals, households andcommunities to better manage risk and provide support to thecritically poor. Thus Social protection should provide: asafety net, particularly for the poor that are likely tofall in the cracks of established programs; and aspringboard for the poor to bounce out of poverty.
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