The International Reserves belong to Ecuadorians and are managed by the BCE under criteria of security, liquidity and profitability, following the best international practices, in order to guarantee the sustainability of dollarization. At present, the International Reserves cover 100% of the national fractional currency in circulation, and the resources of public and private financial entities, as well as those of the popular and solidarity economy deposited in the BCE.

As in 2009, 2015, 2017, 2018 and 2020, International Reserves reported a reduction of more than USD 2 billion over the course of eight months, mainly due to the fact that public sector obligations abroad have been greater than foreign currency inflows, resulting in a negative net flow of USD 1.9 billion between January and August 2023. It should be noted that these obligations correspond mainly to payments of foreign debt contracted by previous administrations.

In contrast to past periods, the adequate levels of International Reserves have allowed the BCE to timely comply with cross-border payments and the provision of currency at the national level, thus guaranteeing the sustainability of dollarization in our country.

We call on the public to be informed through official channels about the movements that affect the level of International Reserves.

We reiterate the fulfillment of our functions as fiscal and financial agent of the State, and service provider for entities of the public sector and for the national financial system, in order to guarantee monetary stability in Ecuador.