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Playing Monopoly with the Devil

Author: Manuel Hinds, Former Salvadoran Finance Minister
July 2005

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This is the tale of what happened to Dema Gogo, ruler of a poor country in an underdeveloped area of the world, when he discovered that he could issue his own currency. The tale starts with a conversation he had with the Devil himself, the day after his inauguration as President of the Republic. Drinking a glass of cognac and smoking a Cuban cigar on the veranda of the Presidential Palace, enjoying the sight of the luscious tropical plants that grew in the garden one floor below, he was pondering what he could do to assure his re-election five years down the road. He had many ideas but no money. It was in that placid moment that he saw a familiar character approaching him.

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