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21 years of dollarization in Ecuador: myths and truths

The truth is that beyond the discrepancies generated by the measure, no politician, regardless of his or her party, has dared to change the current monetary scheme.

By
The Rio Times
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November 24, 2021
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    RIO DE JANEIRO, BRAZIL - At a time when the recurring debate on the possibilities of dollarizing the Argentine economy is back, with the publication of Alfredo Romano's book "Dollarization, a path towards economic stability", it is worth taking a look at what happened in Ecuador, a country that embraced dollarization back in the year 2000.

    On January 9 of that year, President Jamil Mahuad dollarized the Ecuadorian economy, in a climate of political polarization that soon led to his departure from government.

    In the early years, this extreme decision generated a wave of protests, which weakened the country's . . .

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    The Rio Times
    The Rio Times Staff is a network of freelance journalists and bloggers from all over Latin America who keep us informed about news from their regions. This information is collected, checked and processed in our newsroom.

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    The Rio Times is an English language publication dedicated to anyone interested in Brazil and Mercosur. Beyond keeping up with national and local events, The Rio Times will also cover issues of specific interest to foreign nationals here. Our mission is to provide our readers with a broad spectrum of information and improve their understanding of Rio de Janeiro, São Paulo, Brazil, and Mercosur.
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