Commemorative coin approved for Mexico's National Polytechnic Institute

jueves, 5 de mayo de 2011

In February started the proposal for this coin but in april with 95 votes, the Senate authorized the issuance of a bimetallic coin with face value of 20 pesos, marking the 75th anniversary of the founding of the National Polytechnic Institute (IPN).

The opinion, endorsed without discussion, the IPN is a leading avant-garde in the training of technicians and professionals in the fields of administration, science, engineering and new technologies.

"He has served millions of Mexicans who have contributed to the scientific life, cultural, academic and research in Mexico," so it is necessary to recognize its work force since 1936, said the full Senate.

He noted the significant growth in the number of scientists from the IPN incorporated into the National System of Researchers (SNI) since 2003 to 2007 rose from 322 to 518, and in 2010 had 741 scientists assigned to the SNI.

IPN currently has an enrollment of over 150 thousand students in 271 races, grew out of a technical education system involving Narciso Bassols and engineers Luis Enrique Erro and Carlos Vallejo Márquez.

The former president of Mexico, Lazaro Cardenas, began the integration of the National School of Commerce, the Industrial School of Arts and Crafts and the School of Homeopathic Medicine.

Now these institutions are known as the High School of Commerce and Administration (ESCA), School of Mechanical and Electrical Engineering (ESIME) and the National School of Homeopathic Medicine (ENMH).

Similarly, the Senate endorsed the characteristics of the eighth silver coin commemorating the Fifth Anniversary of the Encounter of Two Worlds, and a gold coin to mark the Bicentenary of Start of National Independence Movement.

In another opinion adopted by the full Senate, establishes the characteristics of 24 bimetallic coins commemorating the Heritage Numismatic Mexico.

Solidarity Currency in El Salvador

In the parish Sinincay, located about 15 minutes northwest of Cuenca, dozens of traders agreed since last April 10 at an alternative way to trade than the dollar, the UDI (Solidarity Exchange Unit) for the purchase of of certain premises in the area.

However, this system is already generating mixed reactions in the country. "The only means of payment or currency in Ecuador for financial transactions by financial institutions or through the dollar.Therefore, the circulation of money substitutes is prohibited and punishable by law. " This gave the Superintendency of Banks yesterday outside the payment system.

To some experts it is a parallel currency, which would represent a first step towards de-dollarization. In exchange for your minded is a complementary instrument operates successfully in other countries for the benefit of the popular economy and solidarity.

The UDI were printed on paper money in Holland, with assurances to prevent forgery. These can be redeemed by members of the credit union's Integral and can be used only in the parish, as long as they deliver dollars for what they have monetary support, said Javier Felix, Fundación Pachamama, one of the three entities that promote this pilot project. The other two are National Network of People and Solidarity Finance of Ecuador (Renafipse) and STRO organization of the Netherlands.

Felix explains, this kind of social currency or means of supplementary payments, manage to promote sales within the community and avoid unnecessary departure from the jurisdiction of foreign exchange and generate a sense of community.

The idea was that the sale of products made and delivered to a lower interest loans in UDI. So productive work at a fair on April 10 in which producers and partners exchanged their dollars for UDI, and made the trade. For Felix, there is no intention to create a system to replace the dollar.

In contrast to Mark Lopez, a former member of the Central Bank Board, this process involves the creation of a parallel currency with no real backing. In the case, for example to have a run in the cooperative, the lender can enter into liquidation by illiquidity.

For Lopez, what is happening is like what happened in Argentina with plantains and other parallel currencies that were created. "It's a monetization of the economy and is a step towards de-dollarization because currency is being issued without the backing for the country," he said.

According to the main Renafipse, Rodrigo Aucay, the Central Bank's role in this case lies in the monitoring and supervision of the project to complete it, point out strengths and weaknesses.

About 50 Sinincay traders involved in these exchanges are part of a cooperative agreement with the Integral. Their views are diverse.Viñanzaca Miriam, who owns a beauty salon, says few people who cancel their services with UDI, because in his view there is still mistrust.

Others are betting the method. "It's good that money does not go out of our parish, to try to keep the economy here and mobilize around the city," Orlando said Gordon, who owns a restaurant.

Coins and Banknotes of Paraguay could change

The council of ministers met with members of the Central Bank of Paraguay, who presented the project of modernization money.

"This project involves removal of zeros from the currency denomination of our country. This process must have an appropriate framework for the bill, but that does not, under any aspect, reducing the purchasing power of the Paraguayan currency, "he said after the meeting the Minister of Justice and Labor, Humberto Blasco.

Secretary of State indicated that the government will begin in the next days a series of contacts with sectors such as media, business, political and technical, so as to present the plan and provide a thorough understanding of plan you plan to implement.

"The objective of the Central Bank of Paraguay is to facilitate the use of money, transfer, use the volume of money, considering that this application is a tendency to level all of America and most of the world," said Blasco.

He noted that three zeros be removed and change the name of our currency, which will be renamed "New Guarani."

He said that according to studies and once the project is approved, there is an estimated period of three years for full implementation and change.

"It's going to socialize through the press, and social actors, then you have to submit to Congress a draft law, after the approval of the bill sets a deadline of three years to draw from ancient coin circulation and implement the new coin, with the new name Guarani, "said Secretary of State.

The project was presented by the head of the Central Bank of Paraguay, Jorge Corvalan, and key technicians of the parent bank.

Only in South America with six digits

According to the BCP, the redenomination plan seeks to eliminate three zeros from the Guarani to facilitate economic transactions in the country and will also serve to unify our currency in the form of present prices compared to owning other values ​​of region in relation to the scope of the exchange rate (dollar).

They explained how the Central Bank, Paraguay is one of seven countries in the world have in their monetary cone banknotes in denominations of six digits or more, and only in South America, the fact that, among other things, difficult to understand the level of prices, wages and other aspects that make the local economy.

The request for approval to replace the current for a new ticket, with the same colors and features, with innovation that will Guarani preceded by the word 'new', and was deducted three zeros. Thus, of 5,000 tickets will be five new Guarani Guarani, the 10,000, ten, the 50,000, 50, and 100,000, 100 new Guarani. According to government officials who said the project has the backing of the Economic Team and the President gave his approval for implementation.