“In one year we had a drop of more than $ 10,000 million,” says Diego Martinez

The operations of the Central Bank are under the magnifying glass. The promotion of electronic money and loans to the Ministry of Finance catch the attention of the opposition. Diego Martinez, manager of the company, spoke with daily Expreso to justify those decisions.

Why does the government promote electronic money with VAT returns up to 4%? Is there a need for urgent liquidity?

All actors in the Ecuadorean economy have, due to the conjuncture, a drop in liquidity. All technological means, not only electronic money, help us with the velocity of money circulation. What we are saying is that we are in a difficult economic context as a country, we have admitted this …

Without saying it is a crisis …

Without saying it is crisis. We give a message: Use electronic money and save. We know that citizens are also going through an economic hardship.

How serious is the drop in liquidity at a country level? Should we be concerned?

These are strong levels but do not lead to a crisis. Let´s only quantify: last year, the country lost 7,400 million dollars in exports, disbursements did not even reach 2,000 million dollars …

Source: http://expreso.ec/economia/en-un-ano-tuvimos-una-merma-de-mas-de-10-000-millones-EA376547