• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Facebook removes 390 accounts, focused on Ecuador, from that social network and Instagram for ‘foreign interference’
Otto Sonnenholzner suggests not to annul the vote
Three Petroecuador officials involved in the multi-million dollar Gunvor-related bribery scheme, according to the US FBI complaint
Ecuadorians will be able to identify condor sighting sites thanks to a map in Google Earth
The girls abandoned at the US border left Loja and went to Mexico through the Cotopaxi airport
Ecuadorian migrants were vaccinated in New York
Campaign, fake news and state of exception
Pachakutik describes Vargas’s support for Arauz as “betrayal”
Venezuelan professional earns up to 61% less in Ecuador
With shredders, Petroamazonas personnel destroyed 163 folders of sensitive documents, one day before the merger

Juan Carlos Cassinelli called speaks of more safeguards after the CAN issue

Posted On 12 Jul 2016

 

Image: El Universo

Image: El Universo

An “automatic safeguard,” Minister of Foreign Trade Juan Carlos Cassinelli called the mechanism used by the government to balance the BOP with the Andean Community of Nations (CAN) and to active the alarm when neighboring countries devalue their currencies. The official disclosed this during a meeting with representatives of the Ecuadorian Business Committee (CEE for its Spanish acronym).

After analysis, Cassinelli has concluded that the country has a negative balance of payments, outside the oil issue, of more than $ 1,500 million with the CAN and that Ecuador is at a disadvantage against member countries that are not dollarized.

He explained that this mechanism would allow them, in the event that other countries devalue their currencies, to have an automatic measure that protects domestic production.

Pablo Arosemena, president of the Chamber of Commerce of Guayaquil, rejected the approach of Cassinelli noting that “it is a shot in the shoe” to more safeguards and furthermore, he described safeguards that are already in force and were extended until 2014 as “an atrocity in times of crisis.”

 

Source: http://www.eluniverso.com/noticias/2016/07/12/nota/5686359/cassinelli-habla-mas-salvaguardias-tema-can

About the Author
  • google-share
Previous Story

About 300,000 Ecuadorians would receive e-money

Next Story

Ecuador: a negative balance of $ 314.3 million with the CAN

SEARCH

LATEST NEWS

Facebook removes 390 accounts, focused on Ecuador, from that social network and Instagram for 'foreign interference'

Posted On 09 Apr 2021

Otto Sonnenholzner suggests not to annul the vote

Posted On 09 Apr 2021

Three Petroecuador officials involved in the multi-million dollar Gunvor-related bribery scheme, according to the US FBI complaint

Posted On 09 Apr 2021
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net