8
FINANCIAL EDUCATION IN LATIN AMERICA AND THE CARIBBEAN
IV. ECUADOR
According to the Superintendency of Banks’ (SBS) website, financial education is defined as the development of initiatives to influence citizens’ financial culture, so as to provide them with tools, skills and knowledge for decisionmaking. Financial education also fosters the stability of and confidence in the financial system, as well as economic growth. Therefore, its advancement contributes to individuals’ adoption of financial measures that are welltailored to their personal and household characteristics, in relation to the products and services that are best suited to their needs.
Student studying paperwork. Ecuador. (Photo by Daniel M Ernst/Shutterstock)
