Ecuador fiscal deficit threatens dollarization

Americas Now

Ecuador is on the hunt for economic alternatives.

Ecuador is not in the best shape economically. The government tried to eliminate gasoline and diesel subsidies — but it didn’t go well. After 11 days of violent protests, the government was forced to look for alternatives. 

The Vice President of Ecuador, Otto Sonnenholzner, explains to Americas Now what is at stake if the country doesn’t tackle much needed economic reform. Ecuador adopted the U.S. dollar as its own currency 30 years ago. The government claims this model is now at risk.