Twenty years out, the dollar lowered inflation and narrowed the gap between salary and the basic basket

Norma doesn’t remember how much money she had for the grocery purchases 20 years ago, when the currency in Ecuador was the sucre, only that the return varied. “One week the money was reached, and another did not, so there I saw what I cooked my children. Sometimes it was just rice with guineo,” says this 57-year-old housewife from Guayaquil. His testimony reflects a face of the economic crisis that the country went through in 1999: prices varied with such frequency that people could not plan their budget. To cite an example, press reports from 1999 report that that year the pound…

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