Prof. Steve Hanke , who 14 years ago was the chief intellectual architect of Ecuador’s points out that Dollarization brought great benefits to the Ecuadorian people.
Now that there is a growing pressure from the government to totally quit Dollarization, Prof. Hanke says that going off the dollar will also have terrible consequences for Ecuador’s economy : “If you go off, the fiscal deficit gets bigger, the level of debt gets bigger, inflation goes up […]
