Thanks for the sources to read further in the topic! I was always curious to know how their “experiment” was going to turn out and it seems like the results so far aren’t good
> was always curious to know how their “experiment” was going to turn out and it seems like the results so far aren’t good
They were in a bad position to start with. There was no happy ending even if they'd done everything right.
But had they spent the boom years borrowing cheaply where possible, renegotiating and paying off expensive debt where necessary, moderating fiscal expansion and fighting violence around their tourist centers, they would have had better options. Instead, they voted in a magician.
San Salvador is between a rock (currency crisis prompting food and fuel shortages) and a hard place (austerity and an IMF loan).
El Salvador is the country, "San Salvador" is standing in for "The Government of El Salvador". Or the leadership, executive, etc.
Like when news articles say, "U.S. trade deficits are widening. Washington appears to be pursuing domestic development efforts rather than the protectionist measures floated by many".
They were in a bad position to start with. There was no happy ending even if they'd done everything right.
But had they spent the boom years borrowing cheaply where possible, renegotiating and paying off expensive debt where necessary, moderating fiscal expansion and fighting violence around their tourist centers, they would have had better options. Instead, they voted in a magician.
San Salvador is between a rock (currency crisis prompting food and fuel shortages) and a hard place (austerity and an IMF loan).