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Best Bitcoin Card for Nicaragua

The Republic of Nicaragua is located in Central America and borders Honduras to the north, the Caribbean Sea to the east, Costa Rica to the south and the Pacific Ocean to the west. With an area of 129 779 km², the country is the largest republic in Central America and about three times the size of Switzerland. Numerous small islands in the Caribbean Sea still belong to the national territory, such as the Corn Islands.

In the north of Nicaragua and in the centre of the country there are mountains. The Cordillera Isabella in the north reaches up to 2,100 metres, and the Cerro Mogotón (2,107 metres), the highest point in the country, is on the border with Honduras. In the southern part of Nicaragua, the Cordillera Chontaleña runs in a north-south direction. In the west of the country there is the Pacific basin landscape (Nicaraguasenke) with the two lakes Nicaragua Lake (8 264 km²) and Managua Lake (644 km²). Lake Nicaragua is the largest freshwater lake in Central America. Between the two lakes and the western Pacific coast lies a chain of partially still active volcanoes, the highest of which are the San Cristóbal with 1 745 m and the Concepción with 1 610 m.

In the east of Nicaragua runs the Caribbean Plain, which is only sparsely populated and stretches about 70 km. Here run the largest rivers of the country, which all flow into the Caribbean Sea (e.g. Coco, San Juan, Grande de Matagalpa).

The capital Managua is located on the southern shore of the lake of the same name in the Pacific lowlands.

Political System

Nicaragua is a presidential democracy, the constitution dates back to 1987 and the head of state is the president, who is also the head of the government and commander-in-chief of the armed forces (Daniel Ortega Saveedra since January 2007). He is elected by the people for a five-year term. Since 2014, an unlimited number of terms have been allowed.

The legislative power lies with the parliament, which consists of one chamber (Asamblea Nacional). The 92 deputies are elected by the people for a five-year term, with one seat for the former president and one seat for the runner-up in the presidential elections. Nicaragua is divided into 15 departments and two autonomous regions (Atlantic North and Atlantic South).

Economy

Somoza dictatorship, civil war and severe natural disasters (1998) caused serious damage to the Nicaraguan economy, from which the country has still not recovered. 42% of the population live below the poverty line and 45% are underemployed. The country is highly dependent on foreign financial aid.

Agriculture accounts for one fifth of the gross domestic product (GDP) and employs almost one third of the total workforce. Agricultural products account for a large share of export revenues. The main crops are coffee, bananas, sugar cane and cotton, while corn, millet, rice, beans and citrus fruits are also cultivated. Fishery products (shrimps, fish) are important export goods. Its customers are the USA, El Salvador and Costa Rica.

Industry accounts for around 27% of GDP. The most important branch is food processing, and there are also companies in the chemical, metal and textile industries. Nicaragua’s mineral resources include gold, silver, zinc, copper, iron and lead. The country’s energy needs are largely covered by hydroelectric, wind and geothermal power plants. The main imports are machinery and vehicles, industrial goods and fuels from the USA and other South American countries.

The road network in Nicaragua covers about 19,000 km, of which only about 10% is paved. The country’s most important port on the Pacific coast is Corinto. Approximately 2,200 km of inland waterways are available. An international airport is located near the capital Managua. Currency is the Cordoba (= 100 Centavos).