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History
Nicaraguan land was inhabited during Pre-Colombian times by many indigenous people such as the Nicaraos, Chorotegas, Chontales and Miskitos. Christopher Columbus was the first European who stepped on Nicaraguan land during his fourth and last journey to America. Afterwards many Spanish conquerors settled on these lands. Hernández de Córdoba from whom the currency is named, discovered the Nicaragua Lake and founded the cities of Granada and León. During the next 300 years Nicaragua belonged to the Spanish kingdom under the governance of the colonial capital Granada. It gained independence from Spain in 1821 and belonged to the " Central America United Provinces Federation" a couple of years before the full independence that was achieved in 1938.
Britain and the United States got interested in the region and Britain seized the port of River San Juan and gave it the name of Greytown. The route via San Juan was later used by people in search for gold that traveled from the east coast of the United States and back up to California on the other side of the country.
In 1855 the American filibuster William Walker entered the country and claimed himself president, making English an official language and legalizing slavery. But he was soon defeated and the following century was dominated by the fight between the Leon-based Liberals and the Conservatives from Granada.
In 1934 the head of US-trained National Guard, General Somoza, seized power and, as a dictator, ruled the country for the next 20 years. His personal wealth increased drastically and when he was shot dead in 1956 his sons succeeded him. The corruption helped the communist inspired party FSLN to gain support and inspired by the Cuban revolution they took power of the country in 1979. Somozas land properties were divided and a literacy campaign set up. Fearing a conspiracy among the communist countries United States imposed an economic embargo in 1985 and by the end of the 80's the countries economy was ruined. By this time the Costa Rican president, Oscar Arias, among with five other Central American countries decided to step in and presented a peace accord that was opposed by the United States but helped the country to set up democratic elections. In 1990 FSLN had to step back in favor of Violeta Barrios de Chamorro that was the leader of the Sandanista opposition. During her mandate she reduced the army and started the process of disarming the Contras.
The elections in 1996 was won by Arnoldo Aleman that became famous for putting money, which was aimed for rebuilding the country after the disastrous hurricane Mitch, into his own pocket. He was succeeded by the 73 years old vice president, Enrique Bola ñ os, that now rules the country.
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