According to the 2016 Standard of Living Survey by the National Development Information Institute, between 2014 and 2016 general poverty in Nicaragua dropped from 29.6 to 24.9 percent; while in the same period extreme poverty fell from 8.3 to 6.9 percent.
Despite this progress, poverty remains high. What’s more, Nicaragua is still one of Latin America’s least developed countries, where access to basic services is a daily challenge.
Nicaragua still remains one of the best high-profile nations in Latin America, due to its passport offering a visa-free access to 112 countries. Its is also notable which countries otorgate Nicaraguan Citizens a Visa Free travel. The Nicaraguan passport entitles to visa free travels to the EU for 90 days.
Attractive not only to foreign investors who are desperate for a more powerful passport than the one they currently own, a passport that has access to London, Paris, Berlin… and Moscow!
Nicaragua traditionally relies on agricultural exports to sustain its economy. Unfortunately Nicaragua's little national wealth let benefit just a few families of Spanish descent, particularly the Somoza family in the mid-20th century.
The Somoza dynasty ruled the country with US backing (just like many other South American countries) between 1937 and the Sandinista revolution in 1979 terminated their rule.
Nicaraguas current President Mr. Ortega, (former Head of the Sandinista Rebels) has strong support from the Nicaragua's poor who account for more than a third of the population and have benefitted from his social programmes, now threatened to be modified.
During his tenure, Nicaragua has experienced stable economic growth, poverty levels have fallen and low violence compared to elsewhere in Central America.
Nicaragua now is also struggling with the conflict associated with being on the drug trafficking route to the United States. The people's biggest unrest though lay in the reform of the social services.