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
Managua and its economy. To make matters worse, a series of natural disasters, including Hurricane Mitch in 1998, made economic recovery more difficult. After winning the presidential election in 1990, the National Opposition Union began the reconstruction of Managua began in earnest. More than 300,000 Nicaraguans returned from abroad bringing their expertise and needed capital. Businesses mushroomed, new housing projects and schools were constructed, the airport was expanded and modernized, streets were widened, older malls were repaired and new ones were built, and buildings were cleaned up. In 2006, after the Sandinista National Liberation Front came back into power, literacy, health