Ecuador to retain U.S. dollar as official currency

elmercurio.com reported Ecuadorian President Rafael Correa affirmed that dollarization adopted by his country in 2000, “remains” and stepped out of versions of certain analysts have warned of an alleged output of that system the entry into force of a new Monetary Code. This legal instrument “what endangers dollarization?” Correa asked during a television interview in which he confirmed that, despite not being a supporter of this monetary regime, it would threaten the country get out of the scheme. “The costs of out of dollarization would be catastrophic,” the president said has criticized pegged regime because, in his opinion, left the country without the possibility of exercising monetary policy. Read Article