Nicaragua is the second poorest country in Latin America after Haiti (IFAD 2012). It was ranked 129th out of 187 on the 2011 UNDP Human Development Index and 21st out of 79 on the 2012 Global Hunger Index. While poverty in the country remains high, however, Nicaragua’s economy has made great strides forward in recent years. In 2011, economic activity grew by 5.1 percent, the highest rate in a decade; inflation also declined in 2011 to around 8 percent, down from a record high of 25 percent in 2008 (World Bank 2012).
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