A Few Fun Facts On Ecuador

Ecuador doesnt allow part time work.  And then there are a bunch of people that try to have a sensible discussion about why there are low-income countries that aren’t developing. 

In 2000, Ecuador dollarized their economy.  This means that all the people turned in the old currency to the central bank and received US dollars instead. The value of the last currency, the sucre, was reminiscent of a kangaroo fleeing unpredictable.  This has had a very helpful stabilizing effect in the economy.

The central bank was not in favor of dollarization.  Most institutions don’t like it when you tell them they are useless.  They even released a study that claimed the US dollar wasnѕt suitable for the Ecuadorian climate.  This reason wasn’t good enough, so-

The biggest function of the central bank now is its Cultural Center.  I don’t know how to explain this one.  One would think the majority of necessary functions of a central bank might decrease in the absence of a local currency.  This is not the case.

The US dollars used here look much more worn than those in the US.  This may be due to the fact that the central bank is the only body that is allowed to collect them and trade them for new ones at the US federal reserve.  And perhaps they are busy with their Cultural Center activities.

Tango is not supposed to be danced in a straight line.  Nor in a perfect, uni-directional circle.  To do so would be considered funny.