The article analyses the antecedents and the current forms of the regionalization process in Nicaragua. Nicaragua is divided into two major geographical areas: the Atlantic coast and the Western Central region. In the first area, the structuring forces are centered on foreign capitalistic investments, the exploitation of natural resources, and the ethnical and cultural components of a mostly indigenous population. In the second area, the territorial desintegration results from the action of other socio-economic factors such as the formation and growth of an importing and exporting national bourgeoisie and the proletarization of a large part of the peasant and urban work force. The new government expects the regionalization to contribute, among other things, to the development of an agro-industrial economy, an improvement of the spatial infrastructure, a reduction of the relative demographic weight of Managua, a solution of the problem of migratory agriculture, and a decentralization of investments. In all these projects, a collective effort will be made by the Sandinist Front, the government of national reconstruction and, especially, the workers and peasants.