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View Full Version : Ecuador's Bank Lending Slumps as Correa Default Sparks Outflows - Bloomberg



NewsWhore
05-11-2009, 11:50 AM
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Ecuador&#39;s Bank Lending Slumps as Correa Default Sparks Outflows (http://news.google.com/news/url?sa=T&ct=us/1-0&fd=R&url=http://www.bloomberg.com/apps/news%3Fpid%3D20601086%26sid%3DacIWKJ6SewLw%26refer%3Dnews&cid=0&ei=UD0ISrD2BpWA7QPJ-8yfBw&usg=AFQjCNFV8LMLApYRAvuV17NalSaOHwE1Hg)
Bloomberg
A 30 percent tumble in the central bank&#39;s foreign reserves since the December default is draining the money supply because the South American country uses the dollar as its currency. The lending decline is deepening Ecuador&#39;s economic slump and adding ...


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