Rebecca Ray, a Research Associate for the Center for Economic and Policy Research (CEPR), explains in her Real News interview:
Transcript at the link:
REBECCA RAY: So the remarkable thing about Ecuador’s experience with the recession is that they came out of the recession after only three quarters of declining GDP, and it only took them four additional quarters to reach their previous GDP levels. Meanwhile, their poverty, unemployment levels, these are all lower than they were before the crisis already, well below. [Unemployment's] at a record low.
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