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Financial needs rise by Oxy payment and arrears
Posted On 12 Jan 2016
The payment of $ 980 million to the Oxy oil company and about $ 2,500 million of arrears of 2015 make the financing needs for 2016 to rise at least a $ 10,000 million. In the proforma approved last November, the financing need was estimated at $ 6,600 million.
Fausto Ortiz, former finance minister of this government, said that the regime must finance the Oxy resources that did not appear in the budget proforma.
According to statements by President Rafael Correa, Oxy payments shall be made until April.
In addition, remaining arrears from last year are $ 2,546.1 million. This is recorded on the website of the Ministry of Finance. On this, it is found that the government invoiced $ 35,745.4 million until December, 31 2015 and actually paid $ 33,199.3 million.
