The Gulf of Fonseca borders El Salvador, Honduras and Nicaragua. We stayed in El Salvador, in a few of the anchorages on Isla Meanguera. We could easily see both Honduran and Nicaraguan territories from the cockpit.
The islands in the Gulf of Fonseca are beautiful. They are reminiscent of cruising the Gulf Islands in BC - hilly, wooded islands with quaint little one or two boat anchorages.
However, all the anchorages are open to some direction - either the east or the southwest with its open ocean swell. While we visited, the wind came almost exclusively from the east, and by the third day we were there, the anchorages had become so uncomfortable we simply had to leave.
It was a shame to leave, both because we were leaving El Salvador which we have come to enjoy a great deal, and because the area is so beautiful. However, the beauty is a bit diminished when you get a little seasick at anchor.