Ecuador
By Larry Habegger | Permalink |
No Comments | August 15th, 2001 | Trackback
A deepening economic crisis has prompted mass demonstrations in Quito and threats of strikes around the country that could block major highways. The Ecuadorian currency, the sucre, has lost 67 percent of its value in the past year, and Jan 10 President Jamil Mahuad proposed that the U.S. dollar replace it as the national currency. A state of emergency has been declared and 30,000 police and soldiers mobilized to control the protests.
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Unfortunately commenting has been removed on this blog due to spam.Ecuador
By Larry Habegger | Permalink |
No Comments | August 13th, 2001 | Trackback
The U.S. dollar is now the official currency here, after President Gustavo Noboa signed a bill into law Mar. 9. The local currency, the sucre, will be withdrawn from circulation over the next six months. The desperate move was an attempt to stem inflation, which reached 90 percent.
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