He proposed economic reforms that produced the dolarization of the economy. He declared a freeze in bank accounts in order to control the countries' inflation. However it is presumed that his inner circle had enough time to take millions of dollars out of the banking system.
He gives courses in ethics and politics across US Universities, including the renown Harvard UniversityKennedy School of Government. Harvard University is a private university in Cambridge, Massachusetts, USA and a member of the Ivy League. ... John F. Kennedy School of Government The John F. Kennedy School of Government is one of the graduate schools of Harvard University. ...
During his Presidency, a historical peace agreement with the neighboring country of Peru, was signed. By signing this peace treaty, Ecuador renounced to every claim over the Rio De Janeiro Protocol..
Mahuad concluded a well-received peace with Peru on October 26, 1998, but increasing economic, fiscal, and financial difficulties drove his popularity steadily lower.
However, the coup de grace for Mahuad's administration was Mahuad's decision to make the indigenous currency, the sucre (named after a Venezuelan hero of the revolutionary war against Spain), obsolete and replace it with the U.S. dollar (a policy called dollarization).
On January 15, 2003, retired Colonel Lucio Gutiérrez, a member of the military junta that overthrew presidentJamilMahuad in 2000, assumed the presidency of Ecuador.
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