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Nicaragua Biting Yet Another Hand That Feeds It?

Lets set things straight.

You claim the following "Nicaragua is a country where the economy depends on foreign cash. There is practially no manufacturing, practically no export of agriculture or natural materials. Nicaragua for thirty years has existed primarily on handouts it has received from three directions: the capitalists, the communists, and the expatriates (Nicaraguans living abroad, and foreigners living in Nicaragua)."

Where exactly do you get this information? To begin Nicaragua's infrastructure and economy was devastated due to the Contra War which was financed by the United States in the 1980's. Since then, inflation has been reduced from 33,603 percent to 8 percent, and the government's foreign debt has been cut in half. One of the key engines of economic growth has been production for export. Exports were 640 million in 2001 and 1 billion in 2007. Although traditional products such as coffee, meat, and sugar continued to lead the list of Nicaraguan exports, the fastest growth is now in nontraditional exports: maquila goods, gold, seafood, and new agricultural products such as peanuts, sesame, melons, and onions. In the last 12 years tourism has grown 394 percent.


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