El Salvador: Majority Favors Dollarization

According to an opinion poll, 54% of people consulted agreed to keep the dollar.

Thursday, November 4, 2010

According to the results of a public opinion poll by JBS for El Diario de Hoy, 46% of respondents agree with reversing dollarization.

"The people consulted, including people with salaries under $ 300 and above $ 1000, mostly agreed that in reversing dollarization everything would still be just as expensive (37%) and would have poverty (15.7%). Only 14.9% was optimistic, stating that it would improve the economy and would lower the basic needs."

More on this topic

Why It Would Be Impossible to de-Dollarize El Salvador

June 2012

An Argentine expert predicts that if the Salvadoran economy abandons the dollar it would trigger serious social upheaval ... and Argentines know all about that...

An article in Elsalvador.com by Eduardo Levy Yeyati, former official of the International Monetary Fund (IMF) and the World Bank, and "who has conducted research on the causes and consequences of dollarization, the behavior of markets in times of crisis and of monetary and exchange rate regimes, said a freeze on bank withdrawals in the country would be accompanied by a pronounced economic downturn, which would be associated with an imbalance in the payment system, ie, lack of liquidity. "

El Salvador to Stay Dollarized

May 2012

Salvadoran President Mauricio Funes has rejected assertions of Vice President Salvador Sanchez about the need to return to a national currency.

President Mauricio Funes said he will not reverse the dollarization of the Salvadoran economy.

Funes, who acknowledged that dollarization implemented in the country has created advantages and disadvantages, said that to reverse the process started in 2011 "would create uncertainty", according to Elsalvador.com.

Nobody Wants to Dollarize In Guatemala

June 2010

In a strange unanimity, government officials agree with independent economic analysts: dollarization is inconvenient for Guatemala.

That the Guatemalan Central Bank argues against dollarization is no surprise for anyone, as its very reason for existence is questioned with it.

Salvadoran Economy Will Remain Dollarized

April 2010

This was stated by Carlos Acevedo, president of the Central Bank, in response to a proposal to return to the Salvadoran colón.

Acevedo added that President Mauricio Funes committed to keeping the country dollarized in his presidential campaign, reaffirming it many times afterwards.

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