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Ecuador English News Blog; March, 2009 Archive; Ecuador English News Blog | 03/05/09 17:43
Diego Borja, Ecuador's Economic Policy Minister, defended the country's use of the dollar last February 17 after critics blamed the country's continuous use of dollar as the reason for its limited crediting power.Borja said that they are going to continue defending the "dollarization" of the economy because, according to him, the sectors with the lowest incomes will be terribly hit. It can be remembered that Ecuador used the dollar as its main currency in 2000 to curb the inflation after the sucre tumbled 73 percent against the dollar. News: Bloomberg.com: Latin America
Tags: us dollar • ecuador currency •
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