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Saturday, January 24, 2009

El Salvador

El Salvador - Is officially known as The Republic of El Salvador. El Salvador is a North American country located in Central America, sharing borders with the North Pacific Ocean, Guatemala and Honduras. In the early sixteenth century, the Spanish conquistadors ventured into ports to extend their dominion to the area. They called the land "Provincia De Nuestro SeƱor Jesucristo El Salvador Del Mundo" ("Province of Our Lord Jesus Christ, the Savior of the World"), which was subsequently abbreviated to "El Salvador". El Salvador achieved independence from Spain in 1821 and from the Central American Federation in 1839.
El Salvador is the smallest country in Central America and has the third largest economy. Economic growth will decelerate in 2009 due to the global slowdown and to El Salvador's dependence on exports to the United States and remittances from the USA. With the adoption of the US dollar as its currency in 2001, El Salvador lost control over monetary policy and must concentrate on maintaining a disciplined fiscal policy. The only airport serving international flights in the country is Comalapa International Airport (airport code: SAL). This airport is located in Comalapa, about 30 minutes southeast of the capital.

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