Member of: BCIE, CACM, ECLAC, FAO, G-77, GATT, IADB, IAEA, IBRD, ICAO,
ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, INTELSAT, INTERPOL,
IOC, IOM, ITU, LAES, LAIA (observer), NAM, OAS, OPANAL, PCA, UN,
UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in US: chief of mission: Ambassador Roberto Genaro MAYORGA Cortes chancery: 1627 New Hampshire Avenue NW, Washington, DC 20009 telephone: [1] (202) 939-6570 consulate(s) general: Houston, Los Angeles, Miami, New Orleans, New York, San Francisco
US diplomatic representation: chief of mission: Ambassador John F. MAISTO embassy: Kilometer 4.5 Carretera Sur., Managua mailing address: APO AA 34021 telephone: [505] (2) 666010, 666013, 666015 through 18, 666026, 666027, 666032 through 34 FAX: [505] (2) 666046
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
@Nicaragua:Economy
Overview: Since March 1991, when President CHAMORRO began an ambitious economic stabilization program, Nicaragua has had considerable success in reducing inflation and obtaining substantial economic aid from abroad. Annual inflation fell from more than 750% in 1991 to less than 5% in 1992. Inflation rose again to an estimated 20% in 1993, although this increase was due almost entirely to a large currency devaluation in January. As of early 1994, the government was close to finalizing an enhanced structural adjustment facility with the IMF, after the previous standby facility expired in early 1993. Despite these successes, achieving overall economic growth in an economy scarred by misguided economic values and civil war during the 1980s has proved elusive. Economic growth was flat in 1992 and slightly negative in 1993. Nicaragua's per capita foreign debt is one of the highest in the world; nonetheless, as of late 1993, Nicaragua was current on its post-1988 debt as well as on payments to the international financial institutions. Definition of property rights remains a problem; ownership disputes over large tracts of land, businesses, and homes confiscated by the previous government have yet to be resolved. A rise in exports of coffee and other products led growth in 1994.
National product: GDP - purchasing power parity - $6.4 billion (1994 est.)
National product real growth rate: 3.2% (1994 est.)
National product per capita: $1,570 (1994 est.)
Inflation rate (consumer prices): 19.5% (1994 est.)