Elections:
President—last held on 25 February 1990 (next to be held February
1996);
results—Violeta Barrios de Chamorro (UNO) 54.7%, Daniel Ortega Saavedra
(FSLN) 40.8%, others 4.5%;
National Constituent Assembly—last held on 25 February 1990 (next to be held February 1996); results—UNO 53.9%, FSLN 40.8%, PSC 1.6%, MUR 1.0%; seats—(92 total) UNO 51, FSLN 39, PSC 1, MUR 1
Communists: FSLN—35,000; other Communists—15,000-20,000
Other political or pressure groups: Permanent Congress of Workers
(CPT), Confederation of Labor Unification (CUS), Autonomous Nicaraguan
Workers' Central (CTN-A), Independent General Confederation of Workers
(CTG-I), Communist Labor Action and Unity Central (CAUS), Nicaraguan
Workers' Central (CST); Superior Council of Private Enterprise (COSEP) is
an umbrella group of 11 different business groups, including the Chamber of
Commerce, the Chamber of Industry, and the Nicaraguan Development Institute
(INDE)
Member of: CACM, CEMA (observer), FAO, G-77, GATT, IADB, IAEA, IBRD, ICAC,
ICAO, ICO, IDA, IDB—Inter-American Development Bank, IFAD, IFC, ILO, IMF, IMO,
INTELSAT, INTERPOL, IPU, IRC, ISO, ITU, NAM, OAS, ODECA, PAHO, SELA, UN,
UNESCO, UPEB, UPU, WFTU, WHO, WMO, WTO
Diplomatic representation: Charge d'Affaires Leonor Arguello de HUPER; Chancery at 1627 New Hampshire Avenue NW, Washington DC 20009; telephone (202) 387-4371 or 4372; US—Charge d'Affaires John P. LEONARD; Embassy at Kilometer 4.5 Carretera Sur, Managua (mailing address is APO Miami 34021); telephone [505] (2) 66010 or 66013, 66015 through 66018, 66026, 66027, 66032 through 66034; note—Nicaragua expelled the US Ambassador on 11 July 1988, and the US expelled the Nicaraguan Ambassador on 12 July 1988
Flag: three equal horizontal bands of blue (top), white, and blue with the national coat of arms centered in the white band; the coat of arms features a triangle encircled by the words REPUBLICA DE NICARAGUA on the top and AMERICA CENTRAL on the bottom; similar to the flag of El Salvador which features a round emblem encircled by the words REPUBLICA DE EL SALVADOR EN LA AMERICA CENTRAL centered in the white band; also similar to the flag of Honduras, which has five blue stars arranged in an X pattern centered in the white band
- Economy Overview: Government control of the economy historically has been extensive, although the new government has pledged to reduce it. The financial system is directly controlled by the state, which also regulates wholesale purchasing, production, sales, foreign trade, and distribution of most goods. Over 50% of the agricultural and industrial firms are state owned. Sandinista economic policies and the war have produced a severe economic crisis. The foundation of the economy continues to be the export of agricultural commodities, largely coffee and cotton. Farm production fell by roughly 7% in 1989, the fifth successive year of decline. The agricultural sector employs 44% of the work force and accounts for 23% of GDP and 86% of export earnings. Industry, which employs 13% of the work force and contributes 26% to GDP, showed a sharp drop of - 23% in 1988 and remains below pre-1979 levels. External debt is one of the highest in the world on a per capita basis. In 1989 the annual inflation rate was 1,700%, down from a record 16,000% in 1988. Shortages of basic consumer goods are widespread.
GDP: $1.7 billion, per capita $470; real growth rate - 5.0% (1989 est.)
Inflation rate (consumer prices): 1,700% (1989)