Report for the second debate of Monetary Code was approved

Foto: Fernando Sandoval/ El Telégrafo

The Committee on Economic Regime yesterday afternoon approved the report for the second debate of the Monetary and Financial Organic Code.

The legislation has the character of economic urgent, therefore the Legislative Branch has 30 days to approve the law. The deadline is July 24.

In reference to electronic currency, the government and the opposition agreed that issue will be supported by the liquid assets of the Central Bank of Ecuador (BCE).

While the Board for Monetary Policy and Financial Regulation, the Commission had to have legal status.

Oswaldo Larriva, chairman of the legislative table said he hopes “that by Tuesday the final draft is ready for approval by the plenary.”