CTAD, UNESCO, UNHCR, UNIDO,
UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in US:
chief of mission: Ambassador Roberto Genaro MAYORGA Cortes
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

US diplomatic representation:
chief of mission: Ambassador John F. MAISTO
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: 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
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Economic 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 had
considerable success in reducing inflation and obtaining 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 was 11.7% in 1994 and 11.4%
in 1995. While economic growth was flat in 1992 and negative in
1993, the 1995 growth rate is about 4%, thanks to surges in most
export categories. Recent legislation (November 1995) authorizing
the privatization of the TELCOR telecommunications company and
resolving the issue of property confiscated by the previous
Sandinista government may reassure potential investors. 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