A (observer),
NAM, OAS, OPANAL, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WCL,
WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US:
chief of mission: Ambassador Francisco AGUIRRE Sacasa
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

Diplomatic representation from the US:
chief of mission: Ambassador Luis GUTIERREZ
embassy: Kilometer 4.5 Carretera Sur., Managua
mailing address : APO AA 34021
telephone: [505] (2) 666010 through 666013, 666015 through 18, 666026,
666027, 666032 through 33
FAX: [505] (2) 669074

Flag description: 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

Economy

Economy - overview: The Nicaraguan economy, devastated during the
1980s by economic mismanagement and civil war, is beginning to
rebound. Since March 1991, when President CHAMORRO launched an
ambitious economic stabilization program, Nicaragua has reduced
inflation and obtained substantial economic aid from abroad. Annual
inflation fell from more than 750% in 1991 to less than 5% in 1992.
After rising again to an estimated 20% in 1993, the annual inflation
rate dropped to roughly 11% in 1994-96. Economic growth rose sharply
in 1995-96, thanks to surges in most export categories. The
government's efforts to liberalize trade include a December 1995
decision to stop requiring exporters to bring their foreign exchange
earnings into Nicaragua. On the debt front, the Nicaraguan Government
launched a successful debt buyback program in 1995, purchasing 73% of
its $1.373 billion commercial debt inherited from previous
governments. Progress also occurred on reducing bilateral debt in 1996
as Nicaragua reached an agreement with Russia, reducing Nicaragua's
debt by $3.3 billion. Debt reduction agreements with Paris Club
creditors and rescheduling with Latin American creditors also took
place. Unemployment remains a pressing pro