re: Dollar or Peso for DR Currency

[kingofdice]

Actually, the Argentine government did that sort of thing to their own citizens - putting a freeze on withdrawals from banks and not letting foreign dollars escape the country, also converting the deposits of US Dollars accounts into the lower devalued currency.

I don't think Hipolito would be crazy enough to do such a thing, but if there was a horrific devaluation, it is hard to tell what the PRD government might try to pull on the Dominican people. You can bet the well-to-do Dominicans have a good portion of their available cash and assets sitting in U.S. or Grand Caymen banks.

 

[Escott]

Hahaha this is getting funny.

Most countries in Central America and the Carribean basin have the US as there biggest trading partner except Cuba

I don't know of one country that used the US dollar since their creation. Panama used the Balboa and still does for change. Ecuador had their own currency 10 years ago.

Ecuador has done much better since it went to the dollar in every way. It will never be in the same catagory as the US or even Canada but it has improved.

Also it wont be a matter of Hipo being crazy enough, it will be a matter of necessity that would cause him to do this. Remember just one thing. "The DR cannot pay for their OIL in PESOS".

When they run out of dollars and cannot borrow they will take the dollars that they can get ahold of and that is those that are in the banks.