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The Central Reserve Bank of El Salvador (Spanish: Banco Central de El Salvador) is the central bank of El Salvador, which controls the currency rate and regulates certain economic activities within El Salvador. The bank was originally privately owned, but was brought under state control through The Law on the Reorganization of Central Banking.
The Supreme Court is part of the judicial branch of El Salvador. It is composed of 15 judges and an equal number of substitutes. The magistrates are elected by the Legislative Assembly of El Salvador for nine-year terms, which are reviewed every three years. A two-thirds vote of legislators is necessary.
This action was interpreted by interested parties (in El Salvador and abroad) as a bid by the right to eliminate agrarian reform and to encourage the eviction of land recipients (an ongoing process at the time), although its extent was difficult to quantify; it led directly to a limitation by the Senate Foreign Relations Committee of the U.S ...
El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele, the president of El Salvador, who claimed that it would improve the economy by making banking easier for Salvadorans, and that it would encourage foreign investment.
The Ministry of Finance (Spanish: Ministerio de Hacienda) of El Salvador is the government ministry of El Salvador in charge of directing the fiscal policy on public resources, so that it promotes stability and sustainability of public finances.
The Bitcoin Law [6] (Spanish: Ley Bitcoin, pronounced [ˈlej biðˈkojn]) [7] was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency bitcoin the status of legal tender within El Salvador after 7 September 2021. [8] It was proposed by President Nayib Bukele. The text of the law stated that "the purpose of ...
Logo of the ministry. The Ministry of Governance and Territorial Development (Spanish: Ministerio de Gobernación y Desarrollo Territorial) of El Salvador is a state institution whose mission is to "guarantee governance and provide services for the benefit of the population through preventive actions and participatory organization, integrating institutional efforts to improve the quality of ...
The judiciary of El Salvador comprises a number of courts in a hierarchy. The highest court is the Supreme Court of El Salvador, consisting of 4 different chambers, 3 courts of appeal and a constitutional court. Below the Supreme Court are intermediate appeal courts, with cases heard by panels of three judges.