It must be noted that what really helped eliminate poverty in Ecuador by boosting the purchasing power of the poor has been the official dollarization of the economy thanks to Jamil Mahuad back in 2000. Keep in mind that the greatest theft of the poor in all emerging economies is the continued depreciation and devaluation of their currencies, case in point, Venezuela.

Despite the “Citizen’s Revolution” during which the government received more income than the previous TEN governments COMBINED and yet left the country with the biggest debt in the history of the Republic of Ecuador, economic stability was maintained thanks exclusively to the armored afforded by the US dollar.

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