Economic Plan for Democracy in Central America Act

Economic Plan for Democracy in Central America Act - Makes appropriations to the President for FY 1988 to be used for: (1) additional economic assistance for the established democracies in Central America; (2) interim humanitarian assistance for the Nicaraguan democratic resistance; and (3) assistance to promote democracy in Nicaragua.

Makes the use of the appropriation for assistance to promote democracy in Nicaragua contingent upon a presidential determination as to whether or not the Government of Nicaragua has made changes which will allow peace and democracy in Nicaragua and Central America. Specifies criteria to be used in making such a determination.

Provides that, if the President determines that such changes have been made by the Government of Nicaragua, the funds appropriated shall be available for use to provide economic assistance for Nicaragua to support democracy, economic development, and the repatriation of members of the Nicaraguan democratic resistance and other Nicaraguans who have left the country.

Provides that, if the President determines that such changes have not been made by the Government of Nicaragua, the funds appropriated shall be used by the President to provide such assistance to the Nicaraguan democratic resistance as the President determines necessary.

Provides for congressional disapproval by joint resolution of such a determination. Specifies that, if the Congress disapproves a determination that certain changes have been made by the Government of Nicaragua, the funds appropriated for assistance to promote democracy in Nicaragua shall be made available for use for assistance to the Nicaraguan resistance. Specifies that, if Congress disapproves a determination that certain changes have not been made by the Government of Nicaragua, such funds shall be made available to the Government of Nicaragua.

Provides that such funds shall be disbursed quarterly and that the President shall report to the Congress prior to each disbursement. Provides that funds for economic assistance to Nicaragua shall be allocated between the Government of Nicaragua and nongovernmental organizations.