Match the following phrases to the appropriate participants of the Iran-Contra Affair:

A. President Reagan
B. Oliver North
C. Contras
D. Sandinistas
E. Iran

1. Directly oversaw the transfer of funds from arms sales to Nicaraguan rebels.
2. Overthrew the Nicaraguan government in 1979.
3. Authorized the entire transaction.
4. Guerrilla fighters battling the new leftist Nicaraguan government.
5. Held seven Americans hostage for several years.

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The Iran-Contra Affair involved Reagan overseeing funds to Nicaraguan rebels, Oliver North facilitating covert weapon sales, and illegal actions by the Reagan administration.

Explanation:

President Reagan directly oversaw the transfer of funds from arms sales to Nicaraguan rebels known as the Contras. Oliver North, a member of the National Security Council, played a key role in raising money to support the Contras by selling American missiles to Iran covertly. The Iran-Contra Affair involved illegal covert actions by the Reagan administration, including the covert sale of missiles to Iran and funneling the proceeds to the Contras in Nicaragua.

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