"Almost all independent countries choose to assert their nationality by having, to their own inconvenience and that of their neighbours, a peculiar currency of their own".
This phrase by John Stuart Mill is the header of an analysis on the subject published by the Central American Monetary Council.
In it, they attempt to answer the following questions: It there justification for Central American countries to have their own currencies? Which monetary options do these countries have? Wouldn't it be more convenient for them to use a unified currency, either a proprietary one or an existing like the U.S. dollar, Euro or Yen? What are the required steps towards a monetary union?
Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
Phone: (202) 331-9467
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