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| The Region |
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Background
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. Widespread
opposition to the corrupt, murderous and repressive regimes of the
Somoza family was finally brought to a bloody end, but was followed by
many years of war and instability. Free elections in 1990, 1996, 2000, and
2006 have brought a measure of stability to the country, even though there
has been only slight economic and social advancement.The country has
slowly rebuilt its economy during the 1990s, but was hard hit by Hurricane
Mitch in 1998. Spanish is the official language and the population is
overwhelmingly Roman Catholic.
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. Widespread
opposition to the corrupt, murderous and repressive regimes of the
Somoza family was finally brought to a bloody end, but was followed by
many years of war and instability. Free elections in 1990, 1996, 2000, and
2006 have brought a measure of stability to the country, even though there
has been only slight economic and social advancement.The country has
slowly rebuilt its economy during the 1990s, but was hard hit by Hurricane
Mitch in 1998. Spanish is the official language and the population is
overwhelmingly Roman Catholic.
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| Cárdenas, Nicaragua |
Government & Economy
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 has been far too low to meet the country's needs. As a
result of successful performance under its International Monetary Fund
policy program and other efforts, Nicaragua qualified in early 2004 for
some $4 billion in foreign debt reduction under the Heavily Indebted Poor
Countries (HIPC) initiative. Even after this reduction, however, the
government continues to bear a significant foreign and domestic debt
burden. While current President President Ortega enjoys the support of
the international financial bodies, his internal political base is meager.
Agriculture employs about 45% of the workforce and accounts for about
one fourth of the gross national product. The chief commercial crops are
coffee, cotton, and sugarcane. These together with meat, are the largest
exports. Timber, gold, and seafood are also exported. The principal
manufactured goods are chemicals, textiles, and processed foods. The
country's economy was severely affected by the hurricane.
Nicaragua is a republic. Executive power is held by the president, who is
popularly elected for a five-year term. Members of the unicameral
legislature are also elected for five years. The country is divided into 15
administrative departments and two autonomous regions.
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 has been far too low to meet the country's needs. As a
result of successful performance under its International Monetary Fund
policy program and other efforts, Nicaragua qualified in early 2004 for
some $4 billion in foreign debt reduction under the Heavily Indebted Poor
Countries (HIPC) initiative. Even after this reduction, however, the
government continues to bear a significant foreign and domestic debt
burden. While current President President Ortega enjoys the support of
the international financial bodies, his internal political base is meager.
Agriculture employs about 45% of the workforce and accounts for about
one fourth of the gross national product. The chief commercial crops are
coffee, cotton, and sugarcane. These together with meat, are the largest
exports. Timber, gold, and seafood are also exported. The principal
manufactured goods are chemicals, textiles, and processed foods. The
country's economy was severely affected by the hurricane.
Nicaragua is a republic. Executive power is held by the president, who is
popularly elected for a five-year term. Members of the unicameral
legislature are also elected for five years. The country is divided into 15
administrative departments and two autonomous regions.
| Satellite image source: GoogleEarth.com Region data source: Answers.com |
The village of Cárdenas is a little community of a few hundred people. The
rural economy around Cárdenas is predominately fishing and agriculture. A
road to Cárdenas was just completed last year opening it up for quick
access from the border near Penas Blancas, San Juan del Sur and Rivas.
rural economy around Cárdenas is predominately fishing and agriculture. A
road to Cárdenas was just completed last year opening it up for quick
access from the border near Penas Blancas, San Juan del Sur and Rivas.
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