Foreign relations of Nicaragua
Nicaragua has submitted three territorial disputes, one with Honduras, another with Colombia, and the third with Costa Rica to the International Court of Justice for resolution.
As part of the IMF program, the Government of Nicaragua agreed to implement free market policies linked to targets on fiscal discipline, poverty spending, and energy regulation.
The lack of transparency surrounding Venezuelan bilateral assistance, channeled through state-run enterprises rather than the official budget, has become a serious issue for the IMF and international donors.
[1] Other leading export products are coffee, meat, cigars, sugar, ethanol, and fresh fruit and vegetables, all of which have seen remarkable growth since CAFTA-DR went into effect.
Leading Nicaraguan exports also demonstrated increased diversity, with 274 new products shipped to the United States in the first year.
[1] Poor enforcement of property rights deters both foreign and domestic investment, especially in real estate development and tourism.
Establishing verifiable title history is often entangled in legalities relating to the expropriation of 28,000 properties by the revolutionary government that Ortega led in the 1980s.
Foreign investor interest along the Pacific Coast has motivated some unscrupulous people to challenge ownership rights in the Departments of Rivas and Chinandega, with the hope of achieving some sort of cash settlement.
After the Sandinista National Liberation Front took power in 1979, Nicaragua recognized the PRC on 7 December 1985 until 9 November 1990 when FSLN was defeated and resumed relations with the ROC, which continued under Daniel Ortega's presidency since 2007.
[123] The relationship between the two Latin American countries has evolved amid conflicts over the San Andrés y Providencia Islands located in the Caribbean close to the Nicaraguan shoreline and the maritime boundaries covering 150,000 km2 that included the islands of San Andres, Providencia and Santa Catalina and the banks of Roncador, Serrana, Serranilla and Quitasueño as well as the arbitrarily designed 82nd meridian west which Colombia claims as a border but which the International Court has sided with Nicaragua in disavowing.
During the Venezuelan government of Carlos Andrés Pérez, they helped FSLN to overthrow regime of longtime Nicaraguan dictator Anastasio Somoza Debayle.
The following table includes Republic of China, Georgia, and some of the states with limited recognition: Nicaragua recognized Abkhazia[156] and South Ossetia[157] on September 5, 2008.
At a press conference in November 2008, Nicaraguan Foreign Minister Samuel Santos López said, "Certainly, we think that the decision [to recognize independent Abkhazia and South Ossetia] was fair and appropriate.
After the recognition was announced, the Nicaraguan Foreign Ministry stated that they would immediately establish ties with Tskhinvali and would eventually appoint an ambassador to the republic.
[citation needed] At a press conference in November 2008, Nicaraguan Foreign Minister Samuel Santos López said, "Certainly, we think that the decision [to recognize independent Abkhazia and South Ossetia] was fair and appropriate.
Georgia responded to Nicaragua's concurrent recognition of Abkhazia and South Ossetia by cutting diplomatic relations with the Central American state at the end of November 2008.
[165] On December 9, 2021, Nicaragua broke off diplomatic relations with the Republic of China and recognised the PRC as the legitimate Chinese government.
