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The economy of Ecuador is the eighth largest in Latin America and the 69th largest in the world by total GDP. [17] Ecuador's economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad. [18] In 2017, remittances constituted 2.7% of Ecuador's GDP ...
These factors highlighted the Government of Ecuador's unsustainable economic policy mix of large fiscal deficits and expansionary money policy and resulted in a 7.3% contraction of GDP, annual year-on-year inflation of 52.2%, and a 65% devaluation of the national currency in 1999.
Venezuela was the 21st largest, with 877 thousand barrels / day, Colombia in 22nd with 886 thousand barrels / day, Ecuador in 28th with 531 thousand barrels / day and Argentina 29th with 507 thousand barrels / day. As Venezuela and Ecuador consume little oil and export most of their production, they are part of OPEC. Venezuela had a big drop in ...
By buying-back over $1.5 billion of its discounted existing bonds with cheaper new money, Ecuador will realise almost half a billion dollars of savings over a 17-year period to invest in ...
The 1832 countermark was intended solely for coin minted at Bogotá (Cundinamarca) between 1815 and 1821. But coins of below-standard fineness had been minted at Bogotá in 1823–1826, but dated 1821, and most were put into circulation in the Quito department during the Gran Colombia period.
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In Ecuador alone, there were 2,795 retirees collecting Social Security. That's up from just over 300,000 retirees collecting Social Security from abroad in 2008 .
The 1998–99 Ecuador economic crisis was a period of economic instability that resulted from a combined inflationary-currency crisis, financial crisis, fiscal crisis, and sovereign debt crisis. [1] Severe inflation and devaluation of the sucre led to President Jamil Mahuad announcing on January 9, 2000 that the U.S. dollar would be adopted as ...