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this post was submitted on 23 Oct 2023
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Ecuador and Puerto Rico already did it. Panamá did something similar.
I totally understand the initiative. Corruption can be so damn high, that you trust gringo central bank more than any institution of your own country.
edit: typos
Did you conflate Puerto Rico with Costa Rica? Puerto Rico uses USD, and has since the late 1800s when they became a territory of the US.
Puerto Rico has been using the United States dollar as its official currency since 1898. This change occurred when the United States took control of Puerto Rico as a result of the Treaty of Paris, ending the Spanish-American War. Since then, the U.S. dollar has been the official and only legal tender in Puerto Rico, and the island's monetary system is fully integrated with that of the United States. Puerto Rico did not choose USD. It was chosen for them when Spain ceded their American colony to the US.
El Salvador was the other one aside from Ecuador and Panamá.
Puerto Rico is a us Territory and uses USD. Costa Rica has their own currency with cute sloths and monkeys on their notes.
Trusting the central bank of a country that gave permission, founding and training to the military juntas all over South America to commit crimes against humanity is pretty darn stupid if you ask me...