The Central Bank of Ecuador (BCE) is proud to announce that it has been awarded with the international award for Best Managed Bank by International Finance magazine.
The Latin American Reserve Fund (FLAR) granted the Central Bank of Ecuador (BCE) access to a contingent credit line of up to USD 230 million for exclusive central banking activities. It is important to mention that according to current legal regulations, this type of facility does not constitute public indebtedness.
The Central Bank of Ecuador (BCE) successfully concluded the non-monetary gold refining process of 18,955.4 troy ounces, purchased from small-scale and artisanal miners, complying with article 36 of the Monetary and Financial Code and with article 49 of the Mining Law.
In the first quarter of 2023, the Gross Domestic Product (GDP) presented an interannual growth of 0.7% compared to the same period of the previous year, driven by the positive variation of Household Consumption by 1.6%; Government Spending by 0.5%; and Exports by 0.4%. On the other hand, Gross Fixed Capital Formation contracted by 5.2%, and Imports decreased by 1.3%.
In the fourth quarter of 2022, the Gross Domestic Product (GDP) reached a year-on-year variation of 4.3%, as a result of the favorable performance of Government spending at 7.6%, Exports at 6.2% and Household Consumption at 3.8%. Thus, in the last quarter of 2022, production in real terms exceeded the levels recorded in the pre-pandemic periods
The Central Bank of Ecuador (BCE) is proud to announce that it has been awarded the international “Initiative of the Year” award at the Central Banking Awards. This prestigious award recognizes the institution's recent innovative efforts for its Gold Marketing Program
In the last three years, the use of digital means of payment in Ecuador has increased significantly, as they offer greater security and efficiency compared to traditional means of payment.
We are pleased to announce that as of March 6, 2023, the Central Bank of Ecuador (BCE) is part of the Irving Fisher Committee (IFC) of the Bank for International Settlements (BIS).
The Monetary Policy and Regulation Board and the Central Bank of Ecuador (BCE) inform the public that the resources of the International Reserves of the Republic of Ecuador are not deposited in any of the American and European banking entities that have presented financial problems in the last days.
International Reserves (IR) stood at USD 9.35 billions on January 20, 2023, reaching their highest level since the start of dollarization. This high level of International Reserves allows 100% coverage of liabilities of the first and second balance sheet systems of the Central Bank of Ecuador, and 32% of the third balance sheet system. This means the Central Bank of Ecuador is able to cover with liquid assets all total deposits held by public and private financial institutions at the Central Bank.