Last Friday, December 2, our group took a very exciting trip to DC to visit Ambassador Francisco Campbell at the Nicaraguan Embassy followed by lunch at the University Club. Joining our group for the day were Karen Watts, associate director of CIBER and John Hardisty, a Smith School advisory board member who arranged our visit to the embassy. Both Ms. Watts and Mr. Hardisty were a pleasure to meet and without them, our trip would not have been possible.
Mr. Hardisty was very helpful not only in navigating our trip through the city, but also in making the walk seem almost like a city tour. In front of a building we passed, he pointed out a decorated plastic statue of a donkey, which he explained to be one of the “DC Party Animals”. In the summer of 2002, The Party Animals exhibit, consisting of 100 colorful donkeys and 100 colorful elephants spread throughout the city, helped to promote tourism and raise money for the local arts community. This $400,000 project is the largest public arts display in DC’s history. Before eating lunch, we stopped outside of the University Club to admire its two Party Animals- a statue to represent each party.
Our visit to the University Club was a pleasure. We were welcomed into the building, led past a beautifully decorated Christmas tree to check our coats, and immediately seated in a private dining area. Mr. Hardisty explained to us that in addition to the formal restaurant we dined in, the Club includes a more casual restaurant, a library, a spa, a gym, an indoor pool, and a number of sleeping rooms. Karen Watts generously treated the group to lunch; the food was delicious and the elegant atmosphere was very fitting with our earlier visit to the Embassy of Nicaragua.
Now for the part you all have been waiting for…
It was an absolute honor to meet and hear from Ambassador Francisco Campbell. He is extremely well spoken and obviously very knowledgeable about Nicaragua. He is friendly, welcoming, and was happy to answer any questions we had for him…he even cracked a few jokes! He is a native of Bluefields, Nicaragua’s chief Caribbean port. Prior to becoming the Nicaraguan ambassador to the United States in May 2010, he studied at the University of Hawaii, was recognized as a scholar of The Fulbright Program, taught classes at a university in Massachusetts, and held many diplomatic positions including Nicaraguan ambassador to various South African countries.
Our visit to the embassy was everything we expected and more. As we will be leaving for Nicaragua on January 7 to work with small business owners and entrepreneurs, Ambassador Campbell’s insights on the economic, political, and even geographical structures of the country were extremely informative to us. Although nearly 50% of Nicaraguans live below the poverty line and inflation for 2011 is at a forecasted 10%, Ambassador Campbell informed us that the country is finally approaching its “take-off point”- it is becoming a truly developing country, rather than the underdeveloped country it has always been.
Drug trafficking and organized crimes are two major security issues in Central America. Ambassador Campbell explained that because the production of these illegal drugs is in the South but their market is here in the United States, they pass through Central America in the process. While the South has to be more effective in stopping production and the United States has to do more to reduce demand, it is equally important for Central America to be more effective in intercepting the drugs. We were encouraged to hear that Nicaragua has been widely recognized as the best country in Central America for reducing drug trafficking and organized crime. Specifically, the close relationship between the community and the police facilitates the control of gangs, organized crimes, and other security threats. Furthermore, Ambassador Campbell assured us that Nicaragua is considered the safest country in Central America, and one of the safest in all of Latin America.
In my opinion, the most interesting part of our discussion with Ambassador Campbell regarded Nicaragua’s efforts to increase its use of renewable energy. By 2017, the goal is for 90% of energy in Nicaragua to be renewable. Geothermal, hydro, solar, and biomass energy are among the practical options. The country will eventually be able to export electricity, which is just one thing that makes it a very attractive place for investment. Some businesses from other Central American countries have even decided to move to Nicaragua because of its favorable environment. Because oil is a quickly depleting resource and an expensive source of energy, the transition to more renewable sources will broadly improve the economy.
Growth in Nicaragua’s economy was at 4.5% in 2010. We learned that most of the country’s banks are privately owned, and that the government actively encourages them to provide loans to small businesses such as the ones we will be working with during our visit. In addition to some private banks, there are also government agencies that provide micro loans.
In general, Ambassador Campbell is very optimistic about the future of Nicaragua. As ambassador to the United States, he is especially interested in improving the relationship between Nicaragua and the U.S. By maintaining some control over its crime and security threats, implementing social programs, and substituting the use of oil for renewable energy sources, Nicaragua is working every day to improve its economy and fight against poverty.
Thanks to Ambassador Campbell's time and willingness to share his knowledge, we have a much better understanding of the current economy and structure in Nicaragua. We hope to use our new knowledge as well as our basic understanding of business and finance to make a positive impact on entrepreneurs Richard, Cecelia, Roxanna and Lionell. Now that we have had a taste of Nicaragua, we can't wait to hop off the plane and step on true Nicaraguan soil!
Back row: John Hardisty, Pat Herron (librarian
Back row: John Hardisty, Pat Herron (librarian
At lunch at the university club
Karen Watts and Pat Herron
Karen Watts and Pat Herron
Karen Watts, associate director of CIBER, and John Hardisty, president of Hardisty and Asso., Smith School advisory board member, who arranged the visit with the Ambassador
Nicaraguan ambassador Francisco Campbell and John Hardisty
Lily Griner and Zaida Diaz
