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Official dollarization and the banking system in Ecuador and El Salvador
In January 2000 Ecuador adopted the U.S. dollar as legal tender, and El Salvador followed suit in 2001. The two countries officially dollarized under quite different circumstances: Ecuador was suffering an economic and banking crisis, while El Salvador enjoyed economic stability and low inflation rates. This article studies the evolution of the banking system in these two countries before and after official, or full, dollarization. ; In Ecuador the reforms that ensued from full dollarization have improved transparency and banking performance and competitiveness, but the implementation and ...
Global economic expansion rolls on into 2006
While energy prices remain a threat on the international stage, economies around the world are primed for further growth in the year ahead.