Ecuadorian lawmakers pass central bank independence law

IMF demanded measure to create autonomous board and bar monetary financing

Central Bank of Ecuador

The National Assembly of Ecuador passed a law on April 22 granting the central bank greater independence from the government.

The “law for the defence of dollarisation” also prevents the Central Bank of Ecuador from “directly or indirectly” financing the state, restating a provision from a 2018 law. It also bars the central bank from investing in public or private enterprises.

The International Monetary Fund demanded a law giving the central bank more independence as a condition of its $6.5

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