July 13, 2023. The Central Bank of Ecuador (BCE) recently completed a successful process of refining non-monetary gold, amounting to 18,955.4 troy ounces, purchased from small-scale and artisanal miners. This accomplishment fulfills the provisions stated in Article 36 of the Monetary and Financial Organic Code and Article 49 of the Mining Law. As a result…
On June 30, 2023, the Inter-American Development Bank (IDB) introduced a groundbreaking initiative called Amazonia Forever. This holistic umbrella program seeks to accelerate the sustainable, inclusive, and resilient development of the Amazon region through enhanced financing, knowledge sharing, and regional coordination. The program garnered support from the IDB’s governors representing Bolivia, Brazil, Colombia, Ecuador, Guyana,…
The Ecuadorian economy has experienced a year-on-year growth of 0.7% in the first quarter of 2023, compared to the same period last year. This growth has been driven by positive variations in household consumption (1.6%), government expenditure (0.5%), and exports (0.4%). However, fixed capital formation contracted by 5.2%, and imports decreased by 1.3%. In terms…