CURRENCY NEWS
CURRENCY NEWS
Ecuador Resolves Crisis, Seeks Dollarization As Interim Cure
Ecuador’s currency the sucre is to be pegged at ECS25,000/US$ imminently in a move to stabilize the country’s deepening economic crisis. The proposal, which goes before congress this week, has already received the blessing of the central bank.
Because the sucre would remain in circulation, constitutional approval is not required, according to finance minister Alfredo Arizaga. Such a requirement would have entailed more time to put
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