Correa said that dollarization will remain

President Rafael Correa confirmed on Monday that dollarization “remains,” after some analysts warned of an alleged output of that system because of the new Monetary Code.

During a televised interview, Correa stated that despite not being a supporter of this monetary regime, it would be a latent danger for the country to get out of the scheme.

“The costs of going out of dollarization would be catastrophic”, said the President.

Correa said that there was a surplus of 700 million during the first months of 2014, unlike last year, when a deficit in the trade balance was recorded.

The President also highlighted the increase in the sales volume of oil and other goods such as shrimp which, he said, “has had an extraordinary year”.