Sustainable Development Versus Economic Growth: A Case Study on Natural Disaster in Nicaragua

Abstract

Nicaragua suffers from a severe institutional and geographic vulnerability to natural disasters, which has been further intensified in the past decade due to the effects of global warming. In October 1998, Hurricane Mitch had a severe impact on Nicaragua's economic and environmental development. Although Nicaragua has instituted many economic policies at the request of international lending institutions, the positive implications of these programs were reversed by the impact of the storm. A more sustainable development program must include social and environmental factors as well as economic measures to reduce this risk and move the Nicaraguan economy forward. Integrated efforts among the Nicaraguan government, international lending institutions, and international and local nongovernment organizations are needed to create sustainable development policy that will reduce vulnerability to future storms like Hurricane Mitch.

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