here'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. If ratified, the US-Central America Free Trade Agreement
(CAFTA) will provide an opportunity for Nicaragua to attract
investment, create jobs, and deepen economic development. While
President BOLANOS enjoys the support of the international financial
bodies, his internal political base is meager.

Niger
Niger is one of the poorest countries in the world, a
landlocked Sub-Saharan nation, whose economy centers on subsistence
crops, livestock, and some of the world's largest uranium deposits.
Drought cycles, desertification, a 3.3% population growth rate, and
the drop in world demand for uranium have undercut the economy.
Niger shares a common currency, the CFA franc, and a common central
bank, the Central Bank of West African States (BCEAO), with seven
other members of the West African Monetary Union. In December 2000,
Niger qualified for enhanced debt relief under the International
Monetary Fund program for Highly Indebted Poor Countries (HIPC) and
concluded an agreement with the Fund on a Poverty Reduction and
Growth Facility (PRGF). Debt relief provided under the enhanced HIPC
initiative significantly reduces Niger's annual debt service
obligations, freeing funds for expenditures on basic health care,
primary education, HIV/AIDS prevention, rural infrastructure, and
other programs geared at poverty reduction. Nearly half of the
government's budget is derived from foreign donor resources. Future
growth may be sustained by exploitation of oil, gold, coal, and
other mineral resources.

Nigeria
Oil-rich Nigeria, long hobbled by political instability,
corruption, inadequate infrastructure, and poor macroeconomic
management, is undertaking some reforms under the new civ