Monetary Regulatory Board will take final decision on 0.5% tax on loans

Patricio Rivera, President of the Monetary and Financial Regulatory Board, announced that it is planned to make a decision on the operation of the 0.5% fee that is charged to credits granted to citizens, on the next board meeting. The authority also said they hope to have an open...

Banking sector asks to meet with the Monetary and Financial Board

Members of the banking sector want to meet with Patricio Rivera, Coordinating Minister for Economic Policy, who shall chair the Monetary and Financial Board, the body that regulates the Ecuadorian economy. César Robalino, President of the Association of Private Banks of Ecuador...

Minister Rivera diminish the importance of IMF economic reports

The coordinator minister of the Economic Policy Patricio Rivera, assured that the country’s economy “going very well” and this year will grow by 4% or a “little more” and that the government does not care what it says or does not say the...

Monetary Code seeks bigger credits with the productive sector

Patricio Rivera, Coordinating Minister for Economic Policy, explained that the Monetary Code seeks to regulate the financial sector with the intention of enabling larger credits in the productive sector. Although the decision of who is going to receive the credit and how much one...

Monetary Code Draft would endorse transactions only in dollars

Patricio Rivera, Minister Coordinator of Economic Policy, said the Monetary and Financial Code draft, which will be debated next week in the Assembly, “is not a tool to exit dollarization”. This clarification was made in response to Cesar Robalino, Head of the...
Ministerio de Finanzas, Patricio Rivera

State Budget of 2013 will be equal to last year

The Ministry of Finance, Patricio Rivera, presented the figures for the State Budget 2013 and announced that the amount will be equal to that approved in 2012, is around $ 26,000 million. This happens in election years. According to the 2008 Ecuadorian Constitution, when there...