The Central American Regional Payment System: Reasons for its Failure and Reconversion (1989-1993)

• Main Author: Rafael de Juan Peñalosa
• Format: Article
• Language: Spanish
• Published: Barcelona Centre for International Affairs (CIDOB) 1995-11-01
• Series: Revista CIDOB d'Afers Internacionals
• Online Access: http://www.cidob.org/es/content/download/6967/69672/file/31dejuan.pdf

This article, entitled “The Central American regional payment system: focusses and its reconversion”, is placed in the context of the recent strengthening of those mechanisms responsible for the reactivation of the Central American process of regional economic integration. With the aim of starting up a Central American regional payment system within the framework of the evolution and development of the regional integration of the Central American isthmus, the member countries of the Central American Common Market asked the European Community for technical assistance regarding its creationand application. After careful study by the EC this petition met with a positive response fitting as it did within the context of the policy of cooperation between the European Union and the countries of the Central American region. This in turn led to the signing of the Central American Payment System Financing Treaty in the Irish capital, Dublin, coinciding as it did with the San Jose VI Conference (9/10 March, 1990) which subsequently enjoyed diplomatic as well as financial and technical support as well as an intense development throughout the latter years of the Nineties.