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República de El Salvador
Republic of El Salvador

Flag of El Salvador Coat of Arms of El Salvador
Motto
Dios, Unión, Libertad
God, Union, Freedom
Anthem
National Anthem of El Salvador
Map of El Salvador
CapitalSan Salvador
Government Presidential republic
President
- From 2009Mauricio Funes
Legislature Legislative Assembly
History
Feb 18, 1859Established
Area21,040 km²
Population
- July 20096,134,000
 Density291.5/km²
GDPJuly 2009 (PPP)
- TotalUS$ 45.5 billion
- Per capitaUS$ 7,429
CurrencyU.S. dollar
Flag of None State of El Salvador
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The Republic of El Salvador is a presidential republic in Central America.


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.[1]

Economy

Despite being the smallest country geographically in Central America, El Salvador has the third largest economy in the region. The economy took a hit from the global recession and real GDP contracted by 3.5% in 2009. The economy began a slow recovery in 2010 on the back of improved export and remittances figures. Remittances accounted for 16% of GDP in 2009, and about a third of all households receive these transfers. In 2006 El Salvador was the first country to ratify the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR), which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition and the expiration of the Multi-Fiber Agreement in 2005. El Salvador has promoted an open trade and investment environment, and has embarked on a wave of privatizations extending to telecom, electricity distribution, banking, and pension funds. In late 2006, the government and the Millennium Challenge Corporation signed a five-year, $461 million compact to stimulate economic growth and reduce poverty in the country's northern region, the primary conflict zone during the civil war, through investments in education, public services, enterprise development, and transportation infrastructure. With the adoption of the US dollar as its currency in 2001, El Salvador lost control over monetary policy. Any counter-cyclical policy response to the downturn must be through fiscal policy, which is constrained by legislative requirements for a two-thirds majority to approve any international financing, and by already high levels of debt.[2]

President

  • Mauricio Funes () (June 1, 2009 - )



Nation

Salvadorian Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

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