Electronic money will be private in 2018

Another twist. The economic policy of President Lenin Moreno is moving farther and farther away from that of Rafael Correa.

Yesterday’s decision that private banks will exclusively manage electronic money was formalized. The measure will begin in January next year.

The resolution, agreed yesterday by Moreno, the private bank and players of the Popular and Solidarity Economy, will cause the Central Bank to stop managing the digital payment platform.

That condition, imposed by Correa, did not give the proposal the expected reception. For almost three years only about 350,000 accounts were opened. (I)