Editing Economy of Nicaragua (section)

==Economic history==
{{Main|Economic history of Nicaragua}}
[[File:Nicaragua inflation rate 1980-1993.webp|thumb|center|Nicaragua inflation rate 1980-1993]]
Nicaragua's economy was devastated in the 1980s by the [[Contras|Contra War]], which saw the destruction of much of the country's [[infrastructure]]. At the same time, the US staged an economic blockade from 1985 onward.

Following the civil war, Nicaragua began [[free market]] reforms, [[privatization|privatizing]] more than 350 state companies and commencing a general trend of economic growth.  Inflation has been reduced from 33,603% during the later years of the Sandinista period and 55,000% during the first year of the Chamorro government to more normal levels, averaging an annual rate of 9.5% over the 2000-2010 decade (based on World Bank figures).

Growth was slow (3%) in 2001 due to a combination of factors (a [[global recession]], a series of bank failures, low coffee prices, and a [[drought]]), and in 2009 the economy actually contracted 1.5% in reaction to the [[2008–2012 global recession]]). But even with the recessions, growth has averaged 3.4% between 2001 and 2011 (based on World Bank figures).