President Lenin Moreno said that $ 8 billion is required every year to pay off the fiscal deficit and pay off domestic and foreign debt. Additional $ 2,000 must be secured to meet national objectives until 2021.
Two lines of work were proposed to maintain and strengthen dollarization. One of them was announced Friday by Minister of Economy and Finance Carlos de Torre, and it is a bill of capital repatriation, “In which Ecuadorians abroad that bring resources to our economy will be exempt from paying taxes,” he explained. According to Casares, this measure seeks the repatriation of the money invested abroad so that it returns and is invested in the country to generate dynamism.
The second path, already initiated in the previous administration, is the use of electronic money. Guido Macas said that “this will allow to multiply and increase liquidity in the economy, as the central bank will be in charge of that task. Banks are the primary source of increasing money up to ten times in an economy.” (I)