Dollarization, not devaluation, boosts exports in the long term, says Alfredo Vergara

In an interview with Ecuavisa, the former Banking Superintendent Alfredo Vergara said that there is no other country that devalues more its currency than Venezuela, yet Venezuelan imports -in volume- have remained stagnant, not like Ecuador, that has seen its export sales growing since it adopted the dollar as its currency.

According to Vergara, “it is clear that the solution is not to devalue, but the contrary.”

“The stability promoted by dollarization, in the long term, far outweighs a possible devaluation, that’s why the stable dollar boosts exports.”