Word: sandinistas
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Lacayo attributes his success in business to financial acumen and patriotism during the Sandinista regime. Says he: "Everyone said that to invest in & Nicaragua meant supporting the Sandinistas. I believed that it would lead to victory against the Sandinistas. So I opted to invest...
Nicaraguans agree that Chamorro -- guided by Lacayo -- has kept her two central campaign pledges: to end the nine-year conflict between the Sandinista army and the U.S.-backed contras, and to eliminate the military draft. Her administration is also slowly repairing the economic meltdown produced by Sandinista mismanagement, the war and a U.S. embargo on trade that was lifted only last year...
While estimates of the booty go as high as $700 million, the full extent of Sandinista looting will never be known. By order of the outgoing government, Central Bank, Treasury and comptroller records from February to April 1990 were destroyed. But TIME has obtained partial documentation of their greedy goodbye to power...
Ortega is still living in a house seized from Jaime Morales Carazo and valued at $950,000, including antiques and an art collection. Last April Ortega paid a token $2,500 to the former Sandinista government for the deed to the house, which is protected from prying eyes by a high wall decorated with festive murals. Other top Sandinistas also retired in style. Miguel D'Escoto, the rotund priest and ex-Foreign Minister, paid only $13,000 for one of the capital's plushest mansions...
...countryside the Sandinistas grabbed ranches and farms. Wilfredo Lopez Palma, an assembly deputy, took 2,650 acres in the department of Rivas. Luis Felipe Perez, the Sandinista mayor of the city of Leon, acquired a 600-acre farm. Mario Hurtado Jimenez, who headed the state Corporation of Aviculture, leased a chicken farm to himself on easy-to-pay terms. His rent: 500 dozen eggs a month...