Business overwhelm by high costs

Image: Expreso

In the talk on “Banking and Liquidity,” the constant question of businessmen had to do with the exchange stamp, the high cost of production and the formula for economic policy that should be applied by the Executive branch to get out of this bad moment once and for all.

“Every week we are pending of weekly addresses to see if the exchange stamp is announced,” said one of the attendees Cesar Robalino, president of the Association of Private Banks (ABPE), who spoke at the conference.

Robalino immediately labeled this foreign exchange auction system, which intended to be applied as “highly dangerous.” He refers to the safeguards replacement mechanism, that forces some importers to buy stamps through an auction before buying goods from abroad.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8849183&idcat=38229&tipo=2