Univision Interview – September 2009


Should El Salvador Return To Its Original National Currency? El Colon And Not The Dollar…


4541-250px-colon-el-salvadorChange is what former Salvadoran President Francisco Flores promised in 2001, when the country adopted the dollar as its national currency. He promised unparalleled economic prosperity and growth for all Salvadorans. But that has not been the case.

In 2001, Mr. Flores promised more foreign investments for El Salvador, and as a result, he proceeded with dollarizing the currency. This has had a negative impact on domestic small-business owners, while the foreign large-business owners have benefited from it.

Recently, El Salvador elected its first leftist president, Mauricio Funes. When running for office, Mr. Funes compared himself to Mr. Obama and continually said change and hope were coming to El Salvador and that he could deliver on his promise to improve the lives of Salvadorans.

Indeed, El Salvador is not better off under the dollar. The currency actually has created more poverty and an increase in murder and other crimes.

President Funes must deliver on his promise of hope and change. Returning to the colon would allow the domestic small and large businesses to return to higher production rates. This, in turn, would contribute to independence from foreign investors and, ultimately, decrease crime and violence in El Salvador.

Do you support that El Salvador should return to its original currency – El Colon?

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