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Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, massive unemployment, and huge external debt. Distribution of income is one of the most unequal on the globe. While the country has made progress toward macroeconomic stability over the past few years, GDP annual growth of 1.5% - 2.5% has been far too low to meet the country's need. Nicaragua will continue to be dependent on international aid and debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Nicaragua has undertaken significant economic reforms that are expected to help the country qualify for more than $4 billion in debt relief under HIPC in early 2004. Donors have made aid conditional on the openness of government financial operation, poverty alleviation, and human rights. A three-year poverty reduction and growth plan, agreed to with the IMF in December 2002, guides economic policy.
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Food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood.
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Coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products.
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