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Chambers of Commerce of Ecuador criticize the ‘virtual’ money
Posted On 19 Jul 2016
The National Federation of Chambers of Commerce of Ecuador requested the Government to ‘strengthen’ the dollarization “and discard electronic money.”
Its president and head of the Chamber of Commerce of Guayaquil Pablo Arosemena reiterated his criticism of the scheme run by the Central Bank of Ecuador (BCE for its Spanish acronym).
“It makes no good to dollarization that a government that has liquidity difficulties promotes electronic money to supposedly recover liquidity,” Arosemena said yesterday at a meeting of the Federation.
The meeting was attended by representatives of six other cameras.
“Dollarization needs to be strengthened with trade integration, with a balanced budget and, above all things, discarding electronic money because it has not served to underpin confidence,” the entrepreneur concluded.
