ECUADOR |
Dollarisation. On 9 January, Ecuador marked 20 years since dollarisation. Vice-President Otto Sonnenholzner said it was essential to maintain dollarisation, which provided “certainty” and, he argued, had on balance been “totally favourable”. He said that dollarisation had helped increase the average wage of Ecuadoreans tenfold from “US$80 a month to almost US$739 [while] quadrupling or quintupling our non-oil exports”. He said Ecuador had become the number one shrimp exporter, remained the top banana exporter, and was at the forefront of tuna, cacao, and flower exports, while paying good wages. “There are difficulties, but we have to do everything we can to preserve it,” he concluded.
End of preview - This article contains approximately 206 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options