Angeles

The bank bailout in Ecuador had very devastating social and economic consequences, one of them was that bank deposits wer were frozen, which was the trigger for a develiny incris povert. Unenplo nen crisis that increased poverty, unemployment and. tand an increase in migration, On March 8th, 1999, Frozen. the president of that time, Jamil Mahuad, declared a national holiday, freezing the bank deposits, so we arrive to March 11th, 1999, when the freezing of bank accounts was declared, which was the period of the economic crisis in Ecuador, so we arrive to December 1996, the year in which the law of the Deposit Guarantee Agency was approved. gerenti poverty an uprod On edonen The social consequences were an increase in poverty and indigence, very high unemployment rels rates, a high increase in migration, which can be considered the highest in the history of the country. Economically the country had losses of 8,000 million dollars, state funds of 1.6 billion dollars were used to save the banks and the unemployment rate went from 9% to 17%, thus the colaps Ecuadorian bailout is considered one of the causes of the collapse of the state, leaving a negative balance for Ecuadorians, bringing with it social, economic and political consequences. . Unfortunately, this problem is lasting due to the misuse of state funds without thinking about the consequences that it would be leaving for future generations.