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Ecuador repatriaría la próxima semana 500 millones de
dólares de sus reservas internacionales de corto plazo,
como parte de las medidas que anunció para enfrentar
el embate de la crisis global, informó hoy la ministra de
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Finanzas, Elsa Viteri.
Ecuador, el socio más pequeño de la OPEP, anunció en
agosto pasado que repatriará 1 600 millones de dólares de
la reserva internacional para aumentar el crédito productivo
e irrigar dinero a la inversión. Esa decisión en relación con
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el dinero depositado en financieras del exterior, que a
mediados de agosto se ubicó en 4 000 millones de dólares,
fue justificada por el Gobierno con el argumento de que
con su economía dolarizada desde el 2000 no se requiere
de reservas y se constituyen en ahorro nacional.
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La economía del país, productor de petróleo, banano y
flores y con 14 millones de habitantes, se contrajo un 1,06
por ciento en el segundo trimestre del 2009, frente a una
expansión de un 8,28 por ciento en el mismo lapso del
2008.
(El Universal, 16.10.09)
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How long can the run on the dollar continue? Last
year’s dollar slump, with its attendant rise in commodity
prices, ended when the market put paid to it. This time
governments are attempting to slow it down. But it is not,
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as widely expected, the US government that is doing
this. Instead, the Canadian dollar dropped sharply on
Tuesday after the Bank of Canada issued a warning over
the currency’s recent strength. Brazil’s government went
further, imposing capital controls to stop the real gaining
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at the dollar’s expense. Other countries, it appears, have
more to lose from a weak dollar than the US does.
Perhaps as a result, there was a day’s pause in the
trade that has seen the dollar hit 14-month lows while oil,
denominated in dollars, briefl y hit $80 a barrel before falling.
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Brazil’s imposition of a 2 per cent tax on capital inflows, to
both stocks and bonds, showed strong intent. This move
brought the real, which has risen 54.5 per cent against the
dollar since its nadir, down by 3.8 per cent. The Bovespa
stock index, which has tripled since its low, fell 7.5 per cent
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in dollar terms at one point.
Brazil evidently fears that an overpriced real could endanger
its recovery. Other exporters will be watching closely.
(Source: the Financial Times October 20- www.ft.com, adapted)