Guatemala moves towards opening up greenback use

Guatemala's ruling Republican Front (FRG) on Tuesday presented a bill to Congress proposing the liberalisation of the country's foreign exchange markets, as the first step toward dollarising the Central American economy.

"The aim is to modernise the country's foreign exchange system in order not to remain on the fringe of other nations' advances," said deputy Leonel Soto Arango, the first vice president of Congress and one of the chief proponents of the plan. El Salvador last week announced it