Background:
El Salvador achieved independence from Spain in 1821 and from
the Central American Federation in 1839. A 12-year civil war,
which cost about 75,000 lives, was brought to a close in 1992
when the government and leftist rebels signed a treaty that
provided for military and political reforms.
Economy
- overview:
With the adoption of the US dollar as its currency, El Salvador
has lost control over monetary policy and must concentrate
on maintaining a disciplined fiscal policy. GDP per capita
is roughly only half that of Brazil, Argentina, and Chile,
and the distribution of income is highly unequal. The trade
deficit has been offset by annual remittances of almost $2
billion from Salvadorans living abroad and external aid. The
government is striving to open new export markets, encourage
foreign investment, modernize the tax and healthcare systems,
and stimulate the sluggish economy.
For more
information please visit:
CIA
World Factbook