The Green Economy of Ecuador

In Ecuador we buy and sell in american dollars. It hasn’t always been like that.

Not long time ago, this proud people used their own sucres. Sucre was one of the freedom fighters in the struggle for independence. One condor was equal to 20 sucres. Then, what happened?

This country has trough the history been exposed to unstable, frequently changing political managments, or the lack of it. In periods the inflation was tremendous.They also had a bancing system with great faith in the wonders of capitalism and rapid gains.

Therefore, in 1999, the private banks were bankrupt. The situation was not unlike the one in Argentina some years later. The state garantized for the bank debt. And is still paying for it.

Neverless, there were no more confidence in the sucre. To save the country Ecuador adopted the US $ as the new and only currency. Together with more stabile gobermental control the later years, the medicin worked. The standard of living has increased.

The sucre will hardly return.