Dollarization In Ecuador

Dollarization in Ecuador

In my informative presentation has how objective to inform the different causes that our country have suffered for the effect of dollarization in different aspects. Thegovernment thought that was a good way or solution to improve Ecuador´s economy and on this website, last updated on December 7th of this year Gestiopolis.com said: “For the Central Bank dollarizationis a process where the foreign money comes in other country to replace to the domestic money in a determinate country .”

Ecuador has suffered many transforms in his economic system in differentaspects, for example: exportation of different products like banana, cacao, the devaluation of his currency and the group of indigenous in our country that due their ignorance of this new change willaffect to Ecuador but to the point of view is the decision of the President was change our currency.

According to Mindspring.com said: “Ecuador’s economy has historically depended on the productionand export of raw products such as bananas, cacao, coffee and shrimp. In the early 1970s, oil was discovered and quickly became Ecuador’s primary export .” It is a country that his economy has dependedof his production of materials of exportation that could resolve and support in a determinate necessity because those incomes could resolve some troubles as health, education and alimentation of ournation. But a new resource complemented for progress of Ecuador this source was petroleum. The economic system of Ecuador is not regular because sometimes the prices of products tended to grow andthis affect to a nation.

The problem of dollarization begun when Sucre the money of Ecuador loses his stability between Dollar and according to the book SOCIALES in a fragment said: “as a desperatemeasure, the president decided the dollarization of the economy with an equivalent of 25000 Sucres .” This fact cause a big controversy with the citizens because they did not know what´s happening...