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7901: RE: 7785: The Gourde, the Dollar and the 1987 Constitution (fwd)
From: Antoine Blanc <email@example.com>
" J. David Lyall " <firstname.lastname@example.org> wrote :
"The 1987 Constitution does, in fact, guarantee an exchange rate of 5
gourdes for one US dollar. (...) The constitution also, as noted above,
expressly 'dollarises' the economy by requiring a fixed exchange rate."
This is simply not true.
The 1987 Constitution mentions the currency in art. 6 and art. 226.
Art. 6 reads as follows: "The currency unit is the gourde. It is split up in
The art. 226 says that the "central bank" (not otherwise designated) has the
monopole to issue banknotes whose size, design, face value and use are to be
decided by law.
There is no mention of the exchange rate-pegged or flexible! Nowhere the
word 'dollar' appears.
Wouldn't it be nice to check and double-check the arguments before