The Guarani Turns 70 The currency of our country , Guarani , meets Saturday 70. It was implemented after a Presidential decree of Hyginus Morínigo Paraguayan President in 1943. It is the second oldest Guarani Sudamérica.El born October 5, 1943 , with the decree number 655 signed by then President of Paraguay , Morínigo Hyginus , who was president between 1940 and 1948. It emerged as the successor of the Paraguayan peso. Our currency is the second oldest in South America. The old currency is the Colombian peso , in force since 1810. Like the Guarani, the Colombian peso is facing a period of restructuring . Currently , a draft was submitted to the Executive . It raises the deletion of zeros in our currency and provides for the creation of a new Guarani . The Central Bank of Paraguay (BCP ) will issue a series of commemorative coins in gold and silver to remember the 70th anniversary of the creation of the Guaraní of Paraguay monetary sign . The monetary agency plans to issue at least 1,000 units of exchange , similar to those issued on the bicentennial of the Republic. The coins , which are already in the coffers of the BCP , be for sale to the public once the board approves your circulation and costs , which could occur in the coming days , they said from the parent bank. Also the company Microsoft , after years , made available to the command Guarani ( ₲ ) in Microsoft Word . This is done with the 20B2 and Alt keys and pressing the X key It is available with the new service pack for Windows 7. We recall an article submitted to our journal about the reconversion of the Guarani. It was a collaboration of Oscar Estigarribia , Paraguay resident in the United States, recalled the process of other currencies in South America. The action of removing zeros of a coin has been applied for decades by a large number of countries , sometimes successfully and sometimes with outright failures . Since 1969 , several countries have been forced to use this solution 71 times . This resource was first used in Germany after the end of World War II , when the country experienced a terrible postwar inflation with a shattered economy. The countries taking the lead in using this resource in our area are Mercosur are Argentina and (4 times , removing a total of eight zeros) , and Brazil ( six times , removing 18 zeros and renaming the coin eight times - Cruzeiro Novo Cruzeiro , Cruzado, Cruzado Novo , Real, etc . ) . It is noteworthy that this resource is usually used as part of a complete plan of monetary and economic measures designed to control an inflationary process , revive the economy and restore confidence in the currency , problems exist in Paraguay . Some countries have used to accompany the action without the necessary economic and monetary measures necessary , speculating only benefit the psychological factor of the deletion of zeros , and the results have been dismal failures . Remove zeros from currency itself is not bad. But much depends on the circumstances and the economic and political situation of a country to which the effects are positive or non-negative . Today , in Paraguay , the objective is more formal than substantive , since there are no economic reasons to use this tool. The effects in view would facilitate financial and accounting operations , reduce operating costs cash management by reducing the physical volume handled less volume to transport flows , ATMs, cash held by the public , etc. . , Not are compelling reasons to promote the application of this resource. On the other hand , it is very important to consider the psychological factor , ie how people take a situation like this and how interpreted quite risky. If the government is credible and the plan is widespread , commented and educates the public , it is likely that the effect is positive , reinforcing confidence in the currency , but we must remember that the Paraguayan population is unaware of such measures since the introduction of the Guarani dates from 1944 , and this remains in force , unchanged and extremely stable compared to other regional currencies ,almost 70 years ago! Dólarí , as it was known in the 60s and 70s. All great achievement for our country . The problem I see is that if the population does not trust the government could interpret it as a prelude to a major devaluation , which the local Guaraní confidence would be lost , with the obvious search savers moved their portfolios to hard currency , which in fact depreciate our currency, with perhaps positive effect on the economy , because that would favor exports, but of course this is debatable in an economy that relies so heavily on imports , which must change if we want economic growth and long-term stability . For many sectors of the population , the government of Federico Franco ( Editors note : This article was written in February 2013 , before the election and assumption of Cartes and within the context of adoption of the draft law amending the currency in the Executive ) has no legitimacy and obviously does not have the popularity necessary to implement such measures . I would prefer this to be archived for the time that the next government will consider broad and carefully and if tests conclude that the benefits outweigh the risks and the Government has the necessary popularity, and do it correctly, that implements it if economic conditions are appropriate.
Posted on: Sat, 23 Nov 2013 21:03:33 +0000
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