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 1927. A new sewer system and the redirecting of waste water to a new waste water treatment plant at Las Mercedes funded by the German government to decontaminate the lake is expected to be the largest in Central America and was inaugurated in 2009. Managua's city area extends about , essentially south from the south shore of Lake Managua. The lakeshore is at an altitude of above sea level, and the city climbs as it gets towards the Sierras de Managua further south where it is over above sea level. Geologically, the city lies on fault lines, thus seismologists predict