Quito, Dec 19 (Prensa Latina) The Ecuadorian government is designing a new financial structure, aimed at creating a liquidity fund that promotes the country's economic growth.
When announcing that initiative last night, President Rafael Correa highlighted ó the idea is to create a most favourable monetary system, from savings to investment. ó
He sustained the executive's challenge is to bring back the about 5 billion dollars Ecuadorians have in foreign accounts to invest them in major works, ó for the country's development, with all safety measures, ó the president noted.
That action will allow guaranteeing resources, avoiding foreign debt, and controlling the banking system, which can be achieved with institutional reforms and ó a dynamic economy, ó he added.
The new monetary architecture taking shape will have an initial budget of 100 million dollars, Correa announced.
Sunday, December 23, 2007
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