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Analysis of legal project on dollarization in Ecuador continues

Analysis of legal project on dollarization in Ecuador continues

Quito, Apr 5 (Prensa Latina) The bill for the Defense of Dollarization continues in debate in the National Assembly of Ecuador, amid strong criticisms of its content by various sectors of society.
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In the framework of the evaluation, the bill, of an urgent economic nature, is on the table of the Commission of Economic and Tax Regime and its Regulation and Control, charged of preparing the report for debate in the plenary session of Parliament.

Due to elements included in the document and classified as ‘delicate’ by the team, it was considered that the appearance of different authorities from the public, private and civil society sectors, among others, is required in order to hear their opinions.

The economist Pablo Davalos is invited for this conference, and wrote on Twitter: ‘I will show that this bill is unconstitutional and weakens dollarization.’

The regulation, promoted by President Lenin Moreno and the Ministry of Economy and Finance has already been rejected twice by the Parliament due to problems of formalities and unconstitutionalities.

Minister of Economy Mauricio Pozo is among those called to appear, after having insisted on defining international agreements and the proposal as necessary for the country.

The objective – he said – is to maintain a stable monetary system to preserve the integrity of dollarization, by means of technical independence of a Monetary Policy and Regulation Board, which formulates policies implemented by the Central Bank of Ecuador (BCE), and of another Board of Financial Policy and Regulation.


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