• Short Summary

    President Jose Maria Velasco Ibarra, who assumed full control of Ecuador on June 22, explained his Government's new financial policy to a meeting of monetary experts and pressmen in Guayaquil on Tuesday (30 June).

  • Description

    President Jose Maria Velasco Ibarra, who assumed full control of Ecuador on June 22, explained his Government's new financial policy to a meeting of monetary experts and pressmen in Guayaquil on Tuesday (30 June).

    The meeting was held after financial measures adopted by the President has caused near panic and led to the collapse of the Bank of Guayaquil when the public withdrew their money from savings accounts.

    The President said that the Government did not intend to restrict free enterprise and a second meeting in Quito was proposed.

    The takeover of the Government by President Velasco Ibarra followed a series of student demonstrations and an economic crisis provoked by a run-down in the country's overseas money reserves.

  • Tags

  • Data

    Film ID:
    VLVA87C0LMMNOKTMDEPRUC4T5JPBX
    Media URN:
    VLVA87C0LMMNOKTMDEPRUC4T5JPBX
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    03/07/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:07:00
    Time in/Out:
    /
    Canister:
    N/A

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