Managua in Alajuela, Costa Rica was the second established in 1984. The latter was made the main campus following the lack of government support during the 1980s; in fact the Managua campus was actually closed for most of this time. It then reopened in 1990 after democracy was restored in Nicaragua; however, the main campus remained in Alajuela. According to a study done by América Economía INCAE ranked as the number one business school in Latin America in 2004 and 2005 and ranked in the top ten international business schools by "The Wall Street Journal" in 2006. Managua is the economic
American Capital of Culture the OAS's countries). It has three major objectives: The initiative was devised and is promoted by the American Capital of Culture Organization, a body set up in 1997, with the objective of promoting the American Capital of Culture and other, complementary cultural initiatives, which help to use culture as a key element in the development of the countries of the Americas. Any territory of the countries of the American continent that wish to develop the objectives of the American Capital of Culture may apply to be chosen as American Capital of Culture. "Territory" is deemed to be any physical area