TEGUCIGALPA, HONDURAS, NOV. 21 -- The government will continue to allow U.S. troops to conduct training exercises in Honduras until an agreement can be reached to limit those maneuvers, according to a top government official.

Foreign Minister Carlos Lopez Contreras said Thursday the maneuvers were needed to "compensate for the military disequilibrium that has been produced in Central America in recent years."

The foreign minister's statements came as 6,000 Nicaraguan troops conducted two days of maneuvers in northern Nicaragua near the Honduran border.

At a press conference, Lopez Contreras reiterated his willingness to open bilateral security negotiations with the Sandinista government of Nicaragua. He originally announced those plans in a speech Nov. 12 at the Organization of American States in Washington.

In the speech, Lopez Contreras said his government is willing to expel U.S. troops from Honduras if the Sandinistas expel all Cuban and Soviet military advisers from Nicaragua.

He also said his government would comply with its obligations under the Central American peace plan and is willing to negotiate the demilitarization of the Honduras-Nicaragua border and to disarm any anti-Sandinista rebels found in Honduras. He offered Honduras as the site for any direct negotiations between the Nicaraguan government and the Reagan administration. Speaking with reporters this week in Managua, Nicaraguan President Daniel Ortega welcomed the Honduran initiative. "Honduras has taken the first step and Nicaragua is ready to take another step as soon as possible, since we want to carry forward this {bilateral} process immediately," he said.

The Honduran government looks upon the U.S. military presence as a counter to the Sandinistas, who have more armed troops than any other nation in the region.

Six thousand Sandinista Army regulars and reservists ended their military maneuvers yesterday, declaring they had stopped an imaginary U.S. invasion cold. Correspondent Julia Preston in Managua contributed to this report.