Monetary Code seeks bigger credits with the productive sector

Patricio Rivera, Coordinating Minister for Economic Policy, explained that the Monetary Code seeks to regulate the financial sector with the intention of enabling larger credits in the productive sector. Although the decision of who is going to receive the credit and how much one will depend on the bank.

Rivera commented that concerns about the financial system by the possible change of management Liquidity Fund Management of the Ecuadorian Financial System (Flsfe for its Spanish acronym), which is a trust fund created after the banking crisis and whose main function is to act as last resort lender to banks.

This form of credit is addressing of another issue that bothers banking. Rivera said that the bank currently delivers 70% of the credits within a year, but with this form of operation of the country’s productive matrix can not be changed.