E-money would be safeguarded by private hands

Electronic money could be transferred from the Central Bank of Ecuador (ECB) to private banks, although with several security measures to prevent it from becoming a parallel currency. Finance Minister Carlos de la Torre stated yesterday in his first conversation with media.

He does not rule out that electronic money goes to the hands of the private sector: “There have been talks with private players, it is not ruled out that it passes into private hands as long as there are security mechanisms, to avoid the generation of another currency than the dollar,” he said.