Ecuador
Stiglitz praises Chavez's "Bank of the South"
Joseph Stiglitz, a former World Bank chief economist and Nobel laureate, commended plans put forward by Venezuela's president Hugo Chavez for a regional lender for Latin America.
Ecuadorian board member seen as president's ally
Ecuador's congress has named Miguel Ruiz, who is seen as an ally of the country's leftist president, to the central bank's board boosting his influence over an institution he has vowed to strip of its independence.
Ecuador's central bank defends itself with advert
Ecuador's central bank is taking out advertisements in the country's main newspapers to defend its independence after newly elected President Rafael Correa questioned the need for its autonomy.
Ecuadoran congress fires central bank directors
The Central Bank of Ecuador (BCE) was left leaderless on Thursday 28 April after the National Congress dismissed the members of its board, the BBC Monitoring Service reported.
Ecuador's Cordoba on central bank activities
In the speech 'Overview of activities undertaken by the Central Bank of Ecuador' given on 17 February, Polibio Cordoba of the Central Bank of Ecuador said the BCE is somewhat restricted when it comes to using collateral, since, with the official…
Yepez made Ecuador's new economy minister
Ecuadorian President Lucio Gutierrez said on Tuesday 2 June that he had accepted the resignation of Economy Minister Mauricio Pozo and the new minister will be Central Bank Director Mauricio Yepez.
Central bank to cut 300 staff in Ecuador
The Central Bank of Ecuador (BCE) is to reduce its staff numbers by 28% to 777 as part of a cost cutting plan. The move brings the BCE into line with IMF recommendations and follows criticism of its high wage bill.
Ecuador reports record monetary reserves
The Central Bank of Ecuador has reported that reserves, which have been increasing since August, have hit a record breaking level, according to a report by CRE Satelital radio. The increase is due to the arrival of new loans from international…
Ecuador seeks cen bank, fin min say on oil policy
A committee designed to expand Ecuador's oil output will include the president of the central bank of Eduador, according to a report by Reuters. The committee will work together for a year, a presidential decree made public on Monday 14 July said.
IMF, Ecuador talks to focus on reforms- Cenbanker
Sixto Cuesta, the deputy president of Ecuador's central bank, told Reuters that the IMF has concerns over the pace of reforms of the tax system and labour laws in Ecuador prompting the IMF to delay a $42 million payment.
Ecuador's Gutierrez withdraws bill from Congress
Four days after the president of Ecuador submitted a bill to Congress which aimed at reform of the central bank, the bill was withdrawn. President Gutierrez said the withdrawal aimed to "reformulate and enrich it with opinions from the Central Bank,…
Ecuador seeks tighter controls over banking system
Ecuador's President Lucio Gutierrez has called for reform of the country's central bank which could involve the Bank's board replacing an existing board at the helm of the Banking Superintendency regulator in a bid to tighten controls.
Interview - President of Central Bank of Ecuador
INTERVIEW - In a recent interview Mauricio Yepez, president of Ecuador's central bank, spoke of the technical missions to Ecuador by the IMF and other institutions. He said Ecuador expects to get 100m US dollars from the IADB later this year and a first…
Ecuador bank chief predicts 6% growth for 2003
ECUADOR - Ecuador's economy is set to expand by six per cent next year, up from four per cent growth this year, the country's central bank president, Mauricio Yepez, predicted on Friday.
Ecuador's banks adopt electronic interbank system
ECUADOR - Ecuadorian banks have 60 days as of 27 June to adapt their systems to the central bank's electronic interbank payment system, Ecuadorian financial daily El Comercio reported.
Argentine ex-minister arrested
ARGENTINA - The former Argentine economy minister, Domingo Cavallo, has been arrested in connection with illegal arms sales to Croatia and Ecuador in the 1990s.
New President to Ecuador Central Bank
ECUADOR - The Central Bank of Ecuador has appointed Mauricio Yepez as president, responsible for monitoring the country's economy and monetary reserves.
Honduras not ready to adopt dollar-central banker
HONDURAS - A large trade deficit and limited foreign currency reserves mean Honduras is not ready to follow in the footsteps of neighboring El Salvador and dollarize its economy, Central Bank President Victoria Asfura said on Apr 19.
Ecuador appoints Davila as top bank supervisor
ECUADOR - Ecuador's Congress ended a nearly five-month search for a banking superintendent on Apr 5, appointing former central bank head Miguel Davila to the post after rejecting several other candidates.
Head of Colombian cbanks defends his policies
The managing director of the Central Bank of Colombia, Miguel Urrutia, has denied in an interview that the bank is responsible for Colombia's economic crisis and 20.5 per cent unemployment.
IMF team to review Ecuador's dollarization process
A team from the International Monetary Fund will arrive in Ecuador in the next few days to review the progress of the dollarization process implemented by the country in 2000. The three-member IMF team will stay in Ecuador for about 15 days, analyzing…
Ecuador cbank sells bankrupt banks property assets
The Ecuadorian Central Bank BCE (Banco Central del Ecuador) has put for sale the headquarters and branches of bankrupt banks, and will use he cash to settle loans made to the BCE to solve liquidity problems. Initially it is offering the assets to…
Ecuador inflation slows in Dec 2000 to 2.5 pct
Ecuador's consumer price inflation slowed to 2.5 percent in December 2000 compared with 5.6 percent a year earlier, the Institute of Statistics (INEC) said on Dec 29.
Guatemala considers legalising limited dollar use
Weeks after El Salvador adopted the dollar as one of its currencies, Guatemala's Congress was considering a similar plan Monday, the Associated Press reported.