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Fisheries businessman Bruno Leone comments on economic situation
Posted On 17 Aug 2019
In an interview with Ecuavisa, the vice president of the National Chamber of Fisheries, Bruno Leone, claimed public long-term policies in midst of a climate of confidence so investments flow.
“Now, it is said we have a hard currency that makes it hard to cope with the crisis by the appreciation of the currency, but I rather believe that the fact of having a currency as the dollar is one of the few things that give certainty currently in Ecuador,” said Leone.
Leone recalled the three ways of of foreign exchange incomes in the economy: investment, debt and exports. “Apparently the regime is trying to work on all three fronts, the first with the proposed public-private alliance; the debt is opening the margin of borrowing to attract more debt, but they also have to work in exports, opening markets with trade agreements.”
“The agreement with Europe is still there, moving slowly. We have reports that the situation is not progressing according to schedule. Now, for refusing to implement a trade agreement with the US, even when we have the same currency.”
Bruno Leone believes that international credit rates are required, because at present the domestic credit is not stopped, the banks are not operating from 90 days ago.
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