This Tuesday, the Government of Ecuador reported to the local media its decision to prepare a Monetary and Financial Code that seeks the autonomy of the Central Bank, it must be approved by the National Assembly before the term of the incumbent president, Lenin Moreno, ends.

The Minister of Economy, Mauricio Pozo, also announced that he plans to prepare certain reforms in the tax, labor and social security order.

According to the executive, said code is part of a commitment acquired by the Government in the agreement signed with the International Monetary Fund (IMF) for an amount of 6 billion dollars.

The measure that is still considered a study, is considered a mechanism to give the Central Bank independence in its functions, administrative freedom and the implementation of an autonomous corporate government.

Despite the fact that no further details of the reforms have been known, Pozo indicated that regarding the pension system it will be managed in a comprehensive manner, with the aim of “making social security sustainable.”

K.Villarroel

Source: bancaynegocios

La entrada Government of Ecuador intends to emancipate the Central Bank before his departure apareció primero en Bitfinance.