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Why does El Salvador use United States' currency? |
El Salvador Money do you known what means the colonial country? A lot of smaller countries can't afford to create and maintain their own currency, so they use the currency of a larger country The Salvadoran government introduced the US dollar as legal tender in 2001, in order to limit the possibility of implementing open market monetary policies. Why they would want to do that, I'm not totally sure, not being an economist. They gradually phased out the previous Salvadoran currency (called the col贸n). The government of El Salvador sold to The United States the image of a " stable economy " where it might experience the dolarizaci贸n. What they could foresee, neither one nor another government, they were the cataclysms of the unstable land that supports this economy. Dollar not is a good money for the economy of a poor and sad country like El Salvador, the economy is falling, because is a country of the third world... Dollar can be a good money but no for countrys like El Salvador... |
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