An “Economic Miracle” in Nicaragua … Is It Still Possible?

Abstract

In the spring of 1990 the whole world was watching what was happening in Nicaragua. Free elections brought to a communist country a change of the political regime without violence. Dona Violeta Barrios de Chamorro was elected President and formed a new democratic government. Old and new expectations were revived overnight. After enduring so many privations and tribulations under a communist regime, the Nicaraguan people thought that a new era of prosperity and freedom was at their door. Two years later, in the spring of 1992, the economic and financial situation of Nicaragua had not improved nearly enough to satisfy the needs and the dreams of the Nicaraguan people. This Stabilization Plan was sent on 6 April 1990 to Madame President Barrios de Chamorro but she ignored it. Asks how long people can endure politicians who promise liberation and prosperity and after they get into power they forget it. How right was the British historian Lord Acton, who said: “Power corrupts, absolute power corrupts absolutely”.

Citation

Rugina, A.N. (1993), "An “Economic Miracle” in Nicaragua … Is It Still Possible?", International Journal of Social Economics, Vol. 20 No. 8, pp. 12-31. https://doi.org/10.1108/EUM0000000000536