As far as I know, they don’t have a relevant oil producing economy.
Not according to World Bank:
| population (07/2021 estimate) | GDP nominal (mln USD), 2019 | GDP per capita (USD), 2019 | |
|---|---|---|---|
| El Salvador | 6,528,135 | 27,022.64 | 4,187.30 |
| Estonia | 1,220,042 | 31,471.10 | 23,717.80 |
| Iceland | 354,234 | 24,188.04 | 67,084.10 |
I have got nothing personal against El Salvador. But here’s the thing: With a per-capita GDP of less than 400 USD/month more than half of the population “unbanked”, it’s macroeconomically just pretty irrelevant - let alone a blueprint for more developed societies - of which Iceland and Estonia are both at the forefront of digitalisation.
PS: Also, every article about this refers to this Jack Mallers guy that we’ve touched upon before. And as I’ve said before, I’m not impressed of that guy. He rathers weirds me out in a way. To me, it seems like a publicity stunt that will quickly fizzle.