Ecuador Seeks Alternatives for Possible US Economic Crisis - Quito, Oct 26 (Prensa Latina)

Quito, Oct 26 (Prensa Latina) Quito, Oct 26 (Prensa Latina) After the recent shutdown of the U.S. government, Ecuador devised a contingency plan and seeks alternative financing sources to tackle a possible economic crisis in that country. We also work with the European Investment Bank, China´s Exim Bank and the Abu Dhab Development Fund, confirmed Minister of Finance Fausto Herrera, quoted by El Telegrafo newspaper today.

Up to now, the traditional financing sources of Ecuador, whose economy has been dollarized for 13 years, have been the Andean Development Corporation, the Inter-American Development Bank, and the World Bank, the newspaper reports.   According to Herrera, during the 16 days of the U.S. government shutdown due to disagreements of Republicans and Democrats over the debt ceiling, Ecuador had to use some liquidity provisions and speed up the outlays of some projects already budgeted.   The United States is Ecuador's main trade partner, so if the U.S. economy is affected, Ecuador would receive a direct impact in our income abroad, warned economist Fidel Marquez.

Modificado el ( sábado, 26 de octubre de 2013 )- http://www.plenglish.com/index.php?option=com_content&task=view&id=1991791&Itemid=1