Ecuador foreign debt rises to 31.6%

Ecuador’s foreign debt grew by 31.6% in one year. Between November 2013-2014, the figure went from $ 12,847.4 million to $ 16,913.4 million, according to a press release from the Ministry of Finance. Throughout this year there were several changes. In 2013, China’s...

Correa defends the budget cuts

President Rafael Correa defended today in Beijing the cuts in the state budget of this year at USD 1,420 million. The President said that “we must respond to reality.” The Ecuadorian Ministry of Finance said Correa spoke in that way on the “sharp decline”...