In the last five years, the use of electronic means of payment in Ecuador has increased by companies and citizens, reflecting greater confidence in this means of payment, which offers benefits such as greater security and efficiency, compared to traditional physical means of payment such as cash and check. In 2023, the main method of […]

The Central Bank of Ecuador (BCE), in compliance with the provisions of Article 31 of the Organic Monetary and Financial Code (COMF), published its audited financial statements for the fiscal year 2023. Furthermore, in accordance with Article 30 of the aforementioned Code, the financial statements included the opinion of the independent external auditor who issued […]

Good management of public finances by the National Government is one of the main aspects for the proper functioning of the dollarization system in Ecuador. This involves generating sufficient permanent income to cover public spending in essential sectors, as well as having access to financing under favorable conditions for necessary investments in public infrastructure. The […]

The Free Trade Agreement (FTA) between Ecuador and China would mark a historic milestone for our country as the first trade agreement with an Asian nation. Currently, the agreement is undergoing review and approval by the National Assembly. The Central Bank of Ecuador (CBE), exercising its technical autonomy, issues the following analysis on the trade […]

The Central Bank of Ecuador (BCE), in compliance with its function of preserving and managing the country’s International Reserves (IR), carried out a technical assistance with the World Bank at the beginning of 2023, followed by another with the Inter-American Development Bank. The objective was to analyze the management and composition of the IR[1]. As […]

After reaching one of the highest levels since the start of dollarization in January 2023, International Reserves (IR) stood at USD 4.45 billion on December 31, 2023. This reserve level allowed covering 100% of the liabilities of the first balance system of the Central Bank of Ecuador (BCE) and 43% of the second. In other […]

The Central Bank of Ecuador (BCE), in compliance with its function of preparing, analyzing and publishing macroeconomic synthesis statistics in a technical and transparent manner, makes available to the public the results of the Base Year Change Project (BYC) of the National Accounts. Over the last six years, the Central Bank has worked on the […]

The Central Bank of Ecuador (BCE) presented the results of the Quarterly National Accounts for the third quarter of 2023, which, for the first time, incorporate the new chain linking methodology, using 2018 as the reference year. With this methodological innovation, the BCE contributes to the continuous improvement in statistical production, in order to provide […]

In the second quarter of 2023, Ecuadorian economy experienced a positive variation of 3.3% compared to the same period of the previous year. This growth was primarily driven by a 6.4% increase in government spending, a 4.3% rise in household consumption, and a 3.8% growth in Gross Fixed Capital Formation (GFCF). The increase in government […]

The XLI Meeting of Presidents of Central Banks of South America took place on September 22, 2023, in the city of Quito, Ecuador. Monetary authorities of the region analyzed the current dynamics of the world and regional economy and exchanged valuable experiences regarding the impact of the United States’ monetary policy on South America, the […]