Content area
Full text
The Ecuadorian sucre was officially replaced by the US dollar on September 10, bringing the first phase of president Gustavo Naboa's rescue plan for the highinflation economy to a close.
Although its proponents have been vocal about the benefits - central bank president Jose Luis Ycaza says the change would usher in an era of "stability, confidence and economic recovery" some 76% of the public opposes the dollarization.
The international view has been more sanguine. Stanley Fischer, first deputy managing director of the IMF, says: "Dollarization is proceeding well: international reserve accumulation is well above the programme target and the banking system is more liquid than...





