Awaiting rescue
Article Abstract:
Ecuador faces a drop in gross domestic product in 1999, and is seeking a loan from the International Monetary Fund (IMF) which is calling for stricter supervision of the banks. President Jamil Mahaud is seeking to reform the banking system, with four major banks to be given state aid, smaller banks to merge, and failed banks to stay shut. Ecuador is also burdened with heavy foreign debt obligations and may have problems in servicing its debt.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Culture of thrift: bank management
Article Abstract:
Most banks in continental Europe are struggling, but Sweden's Svenska Handelsbanken is prospering. Tough labor laws and other factors have hampered competitors, but the Swedish bank has succeeded by decentralizing, cutting costs and increasing earnings.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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