Nicaragua Finally Emerging As A Top Retirement Choice?March 31, 2014
Dear Live and Invest Overseas Reader,
Nicaragua, too long overshadowed by her picaresque president, is perhaps, finally, emerging as a top retirement and vacation hotspot.
When the dust settled in Managua after decades of battles between the FSLN (Sandinistas) and the remnants of the Somoza dynasty, Nicaragua was in a dire state. An earthquake in 1972 leveled much of the capital, and this city has only recently enjoyed any restoration. The earthquake, accompanied by the siphoning off of great amounts of aid money and other treasure looted by the departing Somoza regime, left the victors with an empty wallet and few sponsors. Faced with the armed might and massive amounts of foreign aid given to the Contras by the Reagan administration, the Sandinistas welcomed the help offered by the Soviet Union, Cuba, and Venezuela. It was that or give up on the revolution that started with the assassination, in 1934, of Augusto Cesar Sandino, their iconic martyr.
Sandino, labeled a "bandit" by the United States for fighting a guerilla war against U.S. Marines between 1927 and 1933, was assassinated on the orders of General Anastasio Somoza Garcia, who seized power two years later. Nicaragua became a Somoza family fiefdom for the next 40 years.
León, one-time capital of Nicaragua and long-standing liberal city, is recognized as the epicenter of the revolt against Somoza’s control. The unrest, a result of decades of presidential looting, peaked with the assassination of General Somoza in a restaurant in the city of León, in 1956, by a poet disguised as a waiter.