Nicaragua Information
Nicaragua, the largest country in Central America, was inhabited for thousands of years by the Mayan
civilization, and later 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.
Nicaragua is a land of active volcanoes and a history of devastating earthquakes and hurricanes. The vast
percentage of people and industry are concentrated in the southwestern part, near Lakes Managua and
Nicaragua. The eastern half of the country is very flat, sparsely populated, with hot and humid conditions
along the Caribbean coastline, commonly called the Mosquito Coast.
Facts and Figures
Government Republic
Economy 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.
Sources:
civilization, and later 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.
Nicaragua is a land of active volcanoes and a history of devastating earthquakes and hurricanes. The vast
percentage of people and industry are concentrated in the southwestern part, near Lakes Managua and
Nicaragua. The eastern half of the country is very flat, sparsely populated, with hot and humid conditions
along the Caribbean coastline, commonly called the Mosquito Coast.
Facts and Figures
- Official Name Republic of Nicaragua
- Population 5,777,700
- Capital City Managua (1.15 million)
- Languages Spanish (official), English and indigenous languages on Atlantic coast
- Religions Roman Catholic 85%, Protestant
- Land Area 111,750 sq km (45,849 sq miles) slightly smaller than the state of New York
- Highest Point Pico Mogoton, 6,913 ft. (2,107 m)
- Terrain Extensive Atlantic coastal plains rising to central interior mountains; narrow Pacific coastal
plain interrupted by volcanoes
- Natural Resources Gold, silver, copper, tungsten, lead, zinc, timber, fish
- Land Use Arable land 15.9%, permanent crops 1.9%, other 82.1%
- Age Structure 0-14 years 38.1%, 15-64 years: 58.9%, 65 years and over: 3%
- Infant Mortality Rate 30 deaths for every 1000 live births (2004 est.)
- Life Expectancy at Birth Total population 70 years; male 68 years, female 72.2 years (2004 est.)
- Ethnic Groups Mestizo (mixed Amerindian and white) 69%, white 17%, black 9%, Amerindian 5%
- Literacy defined as those age 15 and over who can read and write. Total population 67.5% (2003
est.)
Government Republic
- Executive Branch President Enrique Bolanos Geyer, Vice President Jose Rizo Castellon (elected
January 2002).President is both chief of state and head of government. Council of Ministers (similar
to the Cabinet) is appointed by the president. President and vice president are elected on the same
ticket by popular vote for a fiver year term.
- Legislative Branch Unicameral National Assembly (Asamblea Nacional), 92 seats. Members are
elected by proportional representation and party lists to serve five year terms.
- Judicial Branch Supreme Court (Corte Suprema) with 16 judges elected for five year terms by the
Asamblea Nacional.
Economy 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.
- GDP per Capita Purchasing power parity $2300 (2003 est.)
- Population Below Poverty Line 50% (2001 est.)
- Agriculture Products Coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya,
beans; beef, veal, pork, poultry, dairy products
- Industries Food processing, chemicals, machinery and metal products, textiles, clothing, petroleum
refining and distribution, beverages, footwear, wood
- Exports Coffee, shrimp and lobster, cotton, tobacco, bananas, beef, sugar, gold
- Imports Machinery and equipment, raw materials, petroleum products, consumer goods
- Currency Gold Cordoba
- Exchange Rate Gold cordobas per US dollar - 14.2513 (2003)
Sources:
- www.cia.gov/cia/publications/factbook/geos/cs.html
- www.worldatlas.com/webimage/countrys/namerica/camerica/cr.htm
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