late 1970s, Nicaragua had one of the most dynamic economies of
Central America, despite the dictatorship which prevailed in the county
for more than 40 years. In 1979, the revolutionary government of the
Sandinistas took power. The state intervention in the economy, the restrictions
of this government on the free economy and politics, and the civil war
lead the country into a profound economic and social crisis.
|Per Capita Income
||US $710.4 million
||US $1,119.9 million
||US $1.00 = C $8.9236
|* A crawling peg devaluation
system is applied. The exchange rate moves 1% monthly.
After the elections of 1990, the presidency of the Republic was
assumed by Mrs. Violeta Barrios de Chamorro, who founded her government
on the principle of national reconciliation. She also initiated the
transition from war to peace, from authoritarianism to democracy,
and from a state economy to a market economy. At the same time, the
government managed to stabilize the economy, and the process of steady
economic growth began.
In January of 1997, Mr. Arnoldo Aleman Lacayo of the Liberal Alliance
became the President of the Republic, a fact which demonstrates the strengthening of the
Nicaraguan political system to guarantee a peaceful transition of political power.
The election of Mr Aleman Lacayo as President of
Nicaragua constitutes a guarantee that our country will continue to
strengthen democracy and sustain the necessary policies to protect
the market economy as well as the economic and social development.
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