Money for local development

How are the local currency and decentralization related? The history of local currency goes back to the Ancient Egypt and it became particularly popular after the financial crisis of 2008. Decrease of government spending on social programs and problems with receiving bank loans stimulate search for alternative resources. For this reason, local administrations and civic activists should pay attention to the local payment systems. As the history demonstrates, local currency is very useful in stimulating development and overcoming poverty.

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