Nicaragua Demographics Profile 2012. (n.d.). Index Mundi - Country Facts. Retrieved March 14, 2013
From
“Nicaragua, the poorest country in Central America and the
second poorest in the Hemisphere, has widespread
underemployment and poverty. The US-Central America Free
Trade Agreement (CAFTA) has been in effect since April 2006
and has expanded export opportunities for many agricultural
and manufactured goods.” (Pg.1)
It seems that the CAFTA are trying to use the county’s
agricultural to expand opportunities.
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“Textiles and apparel account for nearly 60% of Nicaragua's
exports, but increases in the minimum wage during the
ORTEGA administration will likely erode its comparative
advantage in this industry. ORTEGA's promotion of mixed
business initiatives, owned by the Nicaraguan and Venezuelan
state oil firms, together with the weak rule of law, could
undermine the investment climate for domestic and
international private firms in the near-term. Nicaragua relies
on international economic assistance to meet internal- and
external-debt financing obligations.” (Pg. 1)
The country’s economy continues to be an issue that needs to
be solved.
“Foreign donors have curtailed this funding, however, in
response to November 2008 electoral fraud. In early 2004,
Nicaragua secured some $4.5 billion in foreign debt reduction
under the Heavily Indebted Poor Countries (HIPC) initiative.
Managua still struggles with a high public debt burden,
however, it succeeded in reducing that burden substantially in
2011. The economy grew at a rate of about 4% in 2011.” (Pg1)
Although things are bad in this country, there seems to be a
beacon of
hope still left in this country.
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- Spring '13
- frye
- Nicaragua, Nicaragua Gerard Doret, Nicaragua numerous times, Nicaragua Demographics Profile
