Rafael Correa, president of Ecuador, refused a rapprochement with the International Monetary Fund (IMF) and announced he will cut electricity subsidies, according to a post on his Twitter account.
On the alleged agreement with the multilateral agency, Correa said this is a lie. He accused, as usual, the media of deceiving people with that information.
Finance Minister Fausto Herrera also confirmed that version through social networks. Late in the afternoon, Herrera wrote: “to end false rumors of some analysts, I report that Ecuador has not managed any loan or adjustment program with the IMF.”
According to him, the Government authorized the publication of the “Section IV report.” That is a common practice, he said, of countries that are related the Fund.