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About Nicaragua

Nicaragua Population: 5,359,759 (July 2004 est.)
Languages: Spanish (official)
Capital: Managua
Government Type: Republic
Independence Day: 15 September 1821 (from Spain)
Legal System: Civil law system; Supreme Court may review administrative acts
Currency: gold cordoba (NIO)

Executive Branch:

Chief of State: President Enrique BOLANOS Geyer (since 10 January 2002); Vice President Jose RIZO Castellon (since 10 January 2002); note - the president is both chief of state and head of government.

Head of Government: President Enrique BOLANOS Geyer (since 10 January 2002); Vice President Jose RIZO Castellon (since 10 January 2002); note - the president is both chief of state and head of government.

American Embassy: Apartado Postal 327, Kilometer 4.5 Carretera Sur, Managua
Mailing Address: APO AA 34021
Telephone: [505] 266-6010, 266-2298 FAX: [505] 266-9074

General Overview: The Pacific Coast of Nicaragua was settled as a Spanish colony from Panama in the early 16th century. Independence from Spain was declared in 1821 and the country became an independent republic in 1838. Britain occupied the Caribbean Coast in the first half of the 19th century, but gradually ceded control of the region in subsequent decades. Violent opposition to governmental manipulation and corruption spread to all classes by 1978 and resulted in a short-lived civil war that brought the Marxist Sandinista guerrillas to power in 1979. Nicaraguan aid to leftist rebels in El Salvador caused the US to sponsor anti-Sandinista contra guerrillas through much of the 1980s. Free elections in 1990, 1996, and again in 2001 saw the Sandinistas defeated. The country has slowly rebuilt its economy during the 1990s, but was hard hit by Hurricane Mitch in 1998.

Economic Overview: Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, massive unemployment, and huge external debt. Distribution of income is one of the most unequal on the globe. While the country has made progress toward macroeconomic stability over the past few years, GDP annual growth of 1.5% - 2.5% has been far too low to meet the country's need. Nicaragua will continue to be dependent on international aid and debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Nicaragua has undertaken significant economic reforms that are expected to help the country qualify for more than $4 billion in debt relief under HIPC in early 2004. Donors have made aid conditional on the openness of government financial operation, poverty alleviation, and human rights. A three-year poverty reduction and growth plan, agreed to with the IMF in December 2002, guides economic policy.

International Disputes: territorial disputes with Colombia over the Archipelago de San Andres y Providencia and Quita Sueno Bank region; the 1992 ICJ ruling for El Salvador and Honduras advised a tripartite resolution to establish a maritime boundary in the Gulf of Fonseca, which considers Honduran access to the Pacific; legal dispute over navigational rights of San Juan River on border with Costa Rica.